Short Interest in Alexander’s, Inc. (NYSE:ALX) Increases By 21.0%

Alexander’s, Inc. (NYSE:ALX) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 358,318 shares, an increase of 21.0% from the February 26th total of 296,021 shares. Based on an average daily trading volume, of 73,941 shares, the days-to-cover ratio is currently 4.8 days. Approximately 9.5% of the shares of the company are short sold.

Alexander’s Stock Performance

Shares of NYSE:ALX opened at $236.77 on Wednesday. The firm has a market capitalization of $1.21 billion, a PE ratio of 43.47 and a beta of 0.82. Alexander’s has a 1 year low of $189.05 and a 1 year high of $260.84. The business’s 50 day moving average price is $240.09 and its 200-day moving average price is $230.68. The company has a debt-to-equity ratio of 7.60, a current ratio of 8.36 and a quick ratio of 8.36.

Alexander’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander’s’s dividend payout ratio is 327.87%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Alexander’s

Institutional investors and hedge funds have recently made changes to their positions in the stock. Voss Capital LP raised its holdings in shares of Alexander’s by 46.9% in the 2nd quarter. Voss Capital LP now owns 25,290 shares of the real estate investment trust’s stock valued at $5,698,000 after purchasing an additional 8,080 shares in the last quarter. AlphaQuest LLC purchased a new stake in Alexander’s during the 3rd quarter valued at approximately $555,000. State Board of Administration of Florida Retirement System acquired a new stake in Alexander’s during the 2nd quarter worth approximately $685,000. Beverly Hills Private Wealth LLC lifted its position in Alexander’s by 13.0% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 20,286 shares of the real estate investment trust’s stock worth $4,757,000 after acquiring an additional 2,332 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Alexander’s by 446.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,296 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 1,059 shares during the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

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.