Alexander’s (NYSE:ALX) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $249.61 and traded as high as $263.64. Alexander’s shares last traded at $261.9420, with a volume of 17,852 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on ALX. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Zacks Research lowered shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Alexander’s Price Performance

The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17. The business has a 50-day moving average price of $249.61 and a 200 day moving average price of $238.65. The stock has a market cap of $1.34 billion, a PE ratio of 65.49 and a beta of 0.78.

Alexander’s (NYSE:ALX) last posted its quarterly earnings results 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 return on equity of 17.38% and a net margin of 9.72%.The firm had revenue of $53.41 million for the quarter, compared to the consensus estimate of $53.40 million. As a group, research analysts forecast that Alexander’s, Inc. will post 12.08 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Monday, May 11th. Alexander’s’s dividend payout ratio (DPR) is currently 450.00%.

Insiders Place Their Bets

In other news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the transaction, the director owned 900 shares in the company, valued at $240,300. This trade represents a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.36% of the stock is owned by corporate insiders.

Institutional Trading of Alexander’s

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in Alexander’s by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 100 shares during the period. Van ECK Associates Corp bought a new stake in Alexander’s during the 3rd quarter valued at $32,000. Garton & Associates Financial Advisors LLC bought a new stake in Alexander’s during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC lifted its position in shares of Alexander’s by 89.1% during the second quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 98 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Alexander’s by 104.0% during the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 104 shares in the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Alexander’s Company Profile

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.