Alexander’s (NYSE:ALX) Sees Large Volume Increase – Still a Buy?

Shares of Alexander’s, Inc. (NYSE:ALX) saw unusually-high trading volume on Tuesday . Approximately 16,218 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 11,247 shares.The stock last traded at $192.03 and had previously closed at $190.83.

Alexander’s Stock Up 0.8 %

The company has a fifty day moving average of $206.49 and a 200 day moving average of $222.32. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 5.18. The company has a market cap of $981.04 million, a P/E ratio of 20.78 and a beta of 0.84.

Alexander’s (NYSE:ALX) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($1.27). Alexander’s had a net margin of 20.33% and a return on equity of 21.79%. The company had revenue of $55.68 million for the quarter, compared to the consensus estimate of $53.50 million. During the same period in the prior year, the firm posted $3.63 EPS. On average, research analysts anticipate that Alexander’s, Inc. will post 14.84 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 11th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 9.38%. The ex-dividend date was Friday, November 8th. Alexander’s’s dividend payout ratio is presently 194.81%.

Institutional Trading of Alexander’s

Hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC purchased a new stake in shares of Alexander’s in the third quarter worth about $205,000. SG Americas Securities LLC purchased a new stake in shares of Alexander’s in the third quarter worth about $215,000. Franklin Resources Inc. lifted its position in shares of Alexander’s by 5.6% in the third quarter. Franklin Resources Inc. now owns 976 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 52 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Alexander’s by 11.5% in the third quarter. Principal Financial Group Inc. now owns 1,112 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 115 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Alexander’s by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,290 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 86 shares in the last quarter. Institutional investors own 31.99% of the company’s stock.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).