Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume Following Dividend Announcement

Shares of Alexander’s, Inc. (NYSE:ALX) saw strong trading volume on Wednesday after the company announced a dividend. 12,276 shares were traded during trading, a decline of 6% from the previous session’s volume of 12,995 shares.The stock last traded at $202.15 and had previously closed at $207.01.

The newly announced dividend which will be paid on Friday, May 30th. Shareholders of record on Monday, May 12th will be given a $4.50 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $18.00 annualized dividend and a yield of 8.60%. Alexander’s’s payout ratio is presently 212.77%.

Alexander’s Stock Up 1.4 %

The firm has a market capitalization of $1.07 billion, a P/E ratio of 24.75 and a beta of 0.82. The company’s 50-day simple moving average is $208.01 and its two-hundred day simple moving average is $208.82. 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 announced its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $4.06 EPS for the quarter, beating 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, research analysts expect that Alexander’s, Inc. will post 11.5 earnings per share for the current year.

Institutional Trading of Alexander’s

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its stake in Alexander’s by 5.6% during the third quarter. Franklin Resources Inc. now owns 976 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 52 shares in the last quarter. Principal Financial Group Inc. grew its stake in Alexander’s by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,193 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 81 shares in the last quarter. Mariner LLC grew its stake in Alexander’s by 1.8% during the fourth quarter. Mariner LLC now owns 5,961 shares of the real estate investment trust’s stock valued at $1,193,000 after acquiring an additional 105 shares in the last quarter. Rhumbline Advisers grew its stake in Alexander’s by 3.7% during the first quarter. Rhumbline Advisers now owns 3,688 shares of the real estate investment trust’s stock valued at $771,000 after acquiring an additional 133 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Alexander’s during the fourth quarter valued at $28,000. 31.99% of the stock is currently owned by institutional investors.

About Alexander’s

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).