Alexander’s (NYSE:ALX) Reaches New 1-Year High – What’s Next?

Shares of Alexander’s, Inc. (NYSE:ALX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $281.95 and last traded at $281.90, with a volume of 6086 shares changing hands. The stock had previously closed at $277.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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, According to MarketBeat, Alexander’s currently has an average rating of “Hold”.

Alexander’s Stock 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 stock’s 50 day moving average is $259.61 and its two-hundred day moving average is $246.23. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 70.44 and a beta of 0.76.

Alexander’s (NYSE:ALX) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($2.17). The company 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%. Analysts anticipate that Alexander’s, Inc. will post 12.08 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $18.00 annualized dividend and a dividend yield of 6.4%. Alexander’s’s payout ratio is presently 450.00%.

Insiders Place Their Bets

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the business’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 transaction of $112,941.00. Following the transaction, the director owned 900 shares in the company, valued at approximately $240,300. The trade was a 31.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 26.36% of the company’s stock.

Institutional Investors Weigh In On Alexander’s

Several institutional investors have recently made changes to their positions in ALX. Covestor Ltd boosted its stake in shares of Alexander’s by 28.9% during the fourth quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 54 shares during the last quarter. Creative Planning grew its holdings in Alexander’s by 4.9% in the third quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock valued at $296,000 after purchasing an additional 59 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Alexander’s by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 69 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Alexander’s by 7.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 70 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Alexander’s by 7.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 83 shares in the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

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.