Alexander’s (NYSE:ALX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Alexander’s, Inc. (NYSE:ALX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $242.16 and traded as high as $280.40. Alexander’s shares last traded at $275.43, with a volume of 18,264 shares traded.

Analyst Ratings Changes

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

Alexander’s Trading Up 0.2%

The company has a debt-to-equity ratio of 9.17, a quick ratio of 6.92 and a current ratio of 6.92. The company’s 50-day moving average price is $254.20 and its 200-day moving average price is $242.16. The firm has a market capitalization of $1.41 billion, a PE ratio of 68.86 and a beta of 0.76.

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 analysts’ consensus estimates of $3.08 by ($2.17). The business had revenue of $53.41 million during 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, sell-side analysts expect that Alexander’s, Inc. will post 12.08 earnings per share for the current year.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio (DPR) is 450.00%.

Insiders Place Their Bets

In related news, Director Russell B. Wight, Jr. sold 423 shares of the company’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 completion of the transaction, the director directly owned 900 shares of the company’s stock, valued at $240,300. This represents a 31.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.36% of the stock is currently owned by insiders.

Institutional Trading of Alexander’s

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $26,000 after buying an additional 100 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Alexander’s in the third quarter valued at $32,000. Garton & Associates Financial Advisors LLC acquired a new position in Alexander’s in the fourth quarter valued at $38,000. Larson Financial Group LLC boosted its stake in Alexander’s by 104.0% in 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased 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 purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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.