Alexander's (NYSE:ALX) Sees Strong Trading Volume - Still a Buy?

Alexander's, Inc. (NYSE:ALX - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 53,632 shares traded hands during mid-day trading, an increase of 250% from the previous session's volume of 15,319 shares.The stock last traded at $230.73 and had previously closed at $229.26.

Alexander's Stock Down 2.0%

The firm has a 50 day simple moving average of $213.10 and a two-hundred day simple moving average of $207.71. The company has a debt-to-equity ratio of 5.59, a current ratio of 13.18 and a quick ratio of 13.18. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 26.79 and a beta of 0.85.

Alexander's (NYSE:ALX - Get Free Report) last released its earnings results on Monday, May 5th. The real estate investment trust reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.49. Alexander's had a return on equity of 21.45% and a net margin of 19.19%. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $56.00 million. As a group, sell-side analysts expect that Alexander's, Inc. will post 11.5 EPS for the current year.

Alexander's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 12th were given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date was Monday, May 12th. Alexander's's dividend payout ratio is currently 233.16%.

Institutional Investors Weigh In On Alexander's

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Alexander's during the fourth quarter worth about $684,000. BNP Paribas Financial Markets raised its position in shares of Alexander's by 75.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,090 shares of the real estate investment trust's stock worth $618,000 after purchasing an additional 1,331 shares during the period. Bank of America Corp DE raised its position in shares of Alexander's by 17.5% during the fourth quarter. Bank of America Corp DE now owns 4,822 shares of the real estate investment trust's stock worth $965,000 after purchasing an additional 718 shares during the period. Northern Trust Corp raised its position in shares of Alexander's by 12.4% during the fourth quarter. Northern Trust Corp now owns 22,424 shares of the real estate investment trust's stock worth $4,486,000 after purchasing an additional 2,466 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Alexander's during the fourth quarter worth about $480,000. Institutional investors and hedge funds own 31.99% of the company's stock.

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.