Alexander’s (NYSE:ALX) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $249.61 and traded as high as $263.64. Alexander’s shares last traded at $261.9420, with a volume of 17,852 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALX. Zacks Research lowered shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Alexander’s currently has a consensus rating of “Hold”.

Alexander’s Trading Up 1.0%

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 firm has a 50 day simple moving average of $249.61 and a two-hundred day simple moving average of $238.65. The firm has a market capitalization of $1.34 billion, a P/E ratio of 65.49 and a beta of 0.78.

Alexander’s (NYSE:ALX) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). The firm had revenue of $53.41 million for the quarter, compared to analysts’ expectations of $53.40 million. Alexander’s had a return on equity of 17.38% and a net margin of 9.72%. Equities research analysts forecast that Alexander’s, Inc. will post 12.08 earnings per share for the current year.

Alexander’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio is presently 450.00%.

Insider Buying and Selling

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the sale, the director owned 900 shares in the company, valued at approximately $240,300. This trade represents a 31.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 26.36% of the company’s stock.

Hedge Funds Weigh In On Alexander’s

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in Alexander’s by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 100 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Alexander’s during the 3rd quarter valued at $32,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Alexander’s during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC raised its stake in shares of Alexander’s by 89.1% during the 2nd 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. Finally, Larson Financial Group LLC raised its stake in shares of Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 104 shares during the period. 31.99% of the stock is owned by institutional investors.

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.