Alexander's (NYSE:ALX) Sees Strong Trading Volume - Here's What Happened

Alexander's, Inc. (NYSE:ALX - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 34,565 shares changed hands during mid-day trading, an increase of 48% from the previous session's volume of 23,326 shares.The stock last traded at $229.35 and had previously closed at $228.17.

Alexander's Stock Down 1.0%

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 29.25 and a beta of 0.85. The company has a quick ratio of 11.19, a current ratio of 11.19 and a debt-to-equity ratio of 6.06. The business has a 50-day moving average price of $217.35 and a 200-day moving average price of $207.86.

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, topping the consensus estimate of $3.57 by $0.49. The business had revenue of $54.92 million for the quarter, compared to the consensus estimate of $56.00 million. Alexander's had a net margin of 18.03% and a return on equity of 21.34%. As a group, equities analysts anticipate that Alexander's, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 12th were issued a dividend of $4.50 per share. The ex-dividend date was Monday, May 12th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.97%. Alexander's's dividend payout ratio is 233.16%.

Institutional Investors Weigh In On Alexander's

Several hedge funds have recently bought and sold shares of ALX. Rhumbline Advisers boosted its stake in shares of Alexander's by 7.0% during the 4th quarter. Rhumbline Advisers now owns 3,555 shares of the real estate investment trust's stock valued at $711,000 after buying an additional 234 shares during the period. Principal Financial Group Inc. grew its stake in Alexander's by 7.3% in 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 purchasing an additional 81 shares in the last quarter. New York State Common Retirement Fund increased its position in Alexander's by 6.2% in the 4th quarter. New York State Common Retirement Fund now owns 10,318 shares of the real estate investment trust's stock worth $2,064,000 after purchasing an additional 600 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Alexander's by 19.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 16,007 shares of the real estate investment trust's stock worth $3,202,000 after purchasing an additional 2,572 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Alexander's by 9.3% during the 4th quarter. Denali Advisors LLC now owns 29,315 shares of the real estate investment trust's stock worth $5,865,000 after purchasing an additional 2,502 shares in the last quarter. 31.99% of the stock is 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.