Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Alexander’s, Inc. (NYSE:ALX) saw strong trading volume on Thursday . 11,262 shares traded hands during trading, a decline of 4% from the previous session’s volume of 11,675 shares.The stock last traded at $218.80 and had previously closed at $215.77.

Alexander’s Price Performance

The stock has a market capitalization of $1.11 billion, a PE ratio of 25.67 and a beta of 0.83. The firm’s 50 day simple moving average is $201.53 and its 200 day simple moving average is $215.50. The company has a debt-to-equity ratio of 5.59, a current ratio of 13.18 and a quick ratio of 13.18.

Alexander’s (NYSE:ALX) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.35. Alexander’s had a net margin of 19.19% and a return on equity of 21.45%. As a group, equities analysts forecast that Alexander’s, Inc. will post 11.5 EPS for the current fiscal year.

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 8.30%. The ex-dividend date of this dividend was Tuesday, February 18th. Alexander’s’s dividend payout ratio is presently 212.77%.

Hedge Funds Weigh In On Alexander’s

A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Alexander’s by 11.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,112 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 115 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Alexander’s by 20.5% during the 3rd quarter. Penserra Capital Management LLC now owns 4,554 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 775 shares during the period. FMR LLC raised its position in Alexander’s by 17.1% during the 3rd quarter. FMR LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $844,000 after purchasing an additional 510 shares during the last quarter. State Street Corp lifted its holdings in Alexander’s by 1.6% in the 3rd quarter. State Street Corp now owns 58,122 shares of the real estate investment trust’s stock worth $14,086,000 after buying an additional 927 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Alexander’s by 162.6% in the 3rd quarter. Jane Street Group LLC now owns 5,722 shares of the real estate investment trust’s stock worth $1,387,000 after buying an additional 3,543 shares during the last quarter. 31.99% of the stock is owned by hedge funds and other institutional investors.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).