Alexander's (NYSE:ALX) Sees Large Volume Increase - Time to Buy?

Key Points

• Alexander's, Inc. (NYSE:ALX) experienced a large trading volume of 34,392 shares on Thursday, despite a slight decline from the previous session.
• The company reported $2.88 EPS for the last quarter, missing the consensus estimate of $3.08, with a net margin of 17.14% and revenue of $51.59 million.
• A quarterly dividend of $4.50 was recently paid, representing an annualized dividend yield of 7.7%, although the payout ratio stands at 247.25%.

Alexander's, Inc. (NYSE:ALX - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 34,392 shares traded hands during trading, a decline of 5% from the previous session's volume of 36,176 shares.The stock last traded at $234.55 and had previously closed at $234.09.

Alexander's Stock Performance

The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.28 and a beta of 0.86. The stock's 50 day moving average price is $235.12 and its two-hundred day moving average price is $223.13.

Alexander's (NYSE:ALX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.20). Alexander's had a return on equity of 22.12% and a net margin of 17.14%.The business had revenue of $51.59 million during the quarter, compared to analysts' expectations of $51.90 million. On average, analysts forecast that Alexander's, Inc. will post 11.5 EPS for the current year.

Alexander's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a $4.50 dividend. The ex-dividend date was Monday, August 11th. This represents a $18.00 annualized dividend and a dividend yield of 7.7%. Alexander's's payout ratio is currently 247.25%.

Institutional Investors Weigh In On Alexander's

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new position in shares of Alexander's during the 1st quarter worth about $62,118,000. H 2 Credit Manager LP purchased a new position in shares of Alexander's during the 1st quarter worth about $13,663,000. Voss Capital LP purchased a new position in shares of Alexander's during the 1st quarter worth about $3,600,000. Goldman Sachs Group Inc. lifted its holdings in shares of Alexander's by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust's stock worth $74,284,000 after acquiring an additional 12,060 shares during the period. Finally, Beverly Hills Private Wealth LLC lifted its holdings in shares of Alexander's by 170.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 17,954 shares of the real estate investment trust's stock worth $4,045,000 after acquiring an additional 11,322 shares during the period. 31.99% of the stock is currently 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.

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