Alexander’s (NYSE:ALX) Sees Large Volume Increase Following Earnings Beat

Shares of Alexander’s, Inc. (NYSE:ALX) saw strong trading volume on Tuesday following a better than expected earnings announcement. 56,459 shares changed hands during mid-day trading, an increase of 36% from the previous session’s volume of 41,617 shares.The stock last traded at $228.4390 and had previously closed at $224.51.

The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.41. The business had revenue of $53.42 million during the quarter, compared to the consensus estimate of $51.60 million. Alexander’s had a return on equity of 22.12% and a net margin of 17.14%.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 10th will be issued a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $18.00 annualized dividend and a yield of 7.7%. Alexander’s’s dividend payout ratio is 247.25%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Alexander’s from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALX. EverSource Wealth Advisors LLC raised its position 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 worth $26,000 after buying an additional 100 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Alexander’s by 177.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 128 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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. Signaturefd LLC grew its holdings in shares of Alexander’s by 37.1% during the second quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 73 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Alexander’s during the first quarter worth about $84,000. 31.99% of the stock is owned by institutional investors.

Alexander’s Stock Up 1.7%

The company has a debt-to-equity ratio of 6.79, a current ratio of 9.78 and a quick ratio of 9.78. The company has a market cap of $1.19 billion, a PE ratio of 32.05 and a beta of 0.86. The company has a fifty day moving average price of $234.01 and a 200 day moving average price of $228.78.

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).