Alexander’s (NYSE:ALX) Reaches New 12-Month High – Should You Buy?

Alexander’s, Inc. (NYSE:ALX) shares hit a new 52-week high on Thursday . The company traded as high as $281.95 and last traded at $281.90, with a volume of 6086 shares traded. The stock had previously closed at $277.93.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Alexander’s Trading Up 2.5%

The company has a market cap of $1.46 billion, a price-to-earnings ratio of 70.90 and a beta of 0.76. The business’s 50 day moving average price is $258.11 and its 200-day moving average price is $245.52. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17.

Alexander’s (NYSE:ALX) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($2.17). Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The company had revenue of $53.41 million during the quarter, compared to analyst estimates of $53.40 million. On average, equities analysts anticipate that Alexander’s, Inc. will post 12.08 EPS for the current fiscal year.

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio (DPR) is currently 450.00%.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total value of $112,941.00. Following the transaction, the director directly owned 900 shares of the company’s stock, valued at $240,300. The trade was a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Militia Capital Management LLC bought a new stake in shares of Alexander’s in the 1st quarter valued at $496,000. Bank of America Corp DE raised its stake in Alexander’s by 11.1% during the first quarter. Bank of America Corp DE now owns 2,860 shares of the real estate investment trust’s stock worth $676,000 after buying an additional 286 shares during the last quarter. Janus Henderson Group PLC boosted its position in Alexander’s by 8.4% during the first quarter. Janus Henderson Group PLC now owns 5,022 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 388 shares during the last quarter. California State Teachers Retirement System boosted its position in Alexander’s by 74.4% during the first quarter. California State Teachers Retirement System now owns 4,148 shares of the real estate investment trust’s stock valued at $980,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Alexander’s by 295.9% in the 1st quarter. Royal Bank of Canada now owns 479 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 358 shares during the period. Institutional investors own 31.99% of the company’s stock.

About Alexander’s

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.