Alexander’s (NYSE:ALX) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $232.15 and traded as low as $225.50. Alexander’s shares last traded at $227.1090, with a volume of 29,210 shares.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research downgraded Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Alexander’s has an average rating of “Hold”.

Alexander’s Stock Down 2.6%

The company has a market cap of $1.16 billion, a P/E ratio of 56.78 and a beta of 0.80. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92. The business’s 50 day moving average price is $241.77 and its 200-day moving average price is $232.15.

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

Alexander’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be given a dividend of $4.50 per share. The ex-dividend date is Monday, May 11th. This represents a $18.00 annualized dividend and a yield of 7.9%. Alexander’s’s dividend payout ratio is 450.00%.

Hedge Funds Weigh In On Alexander’s

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

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.