Alexander's (NYSE:ALX) Sees Unusually-High Trading Volume - Time to Buy?

Alexander's, Inc. (NYSE:ALX - Get Free Report) saw strong trading volume on Monday . 15,058 shares were traded during mid-day trading, a decline of 43% from the previous session's volume of 26,319 shares.The stock last traded at $226.74 and had previously closed at $224.65.

Alexander's Trading Up 0.7%

The stock's 50 day simple moving average is $220.87 and its 200 day simple moving average is $208.52. The firm has a market cap of $1.19 billion, a PE ratio of 30.12 and a beta of 0.85. The company has a debt-to-equity ratio of 6.06, a quick ratio of 11.19 and a current ratio of 11.19.

Alexander's (NYSE:ALX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $4.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.49. The company had revenue of $54.92 million during 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%. On average, sell-side analysts forecast that Alexander's, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 12th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date of this dividend was Monday, May 12th. Alexander's's payout ratio is currently 233.16%.

Hedge Funds Weigh In On Alexander's

A number of large investors have recently modified their holdings of ALX. Principal Financial Group Inc. boosted 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 worth $239,000 after buying an additional 81 shares in the last quarter. Mariner LLC lifted its holdings in shares of Alexander's by 1.8% in the 4th quarter. Mariner LLC now owns 5,961 shares of the real estate investment trust's stock worth $1,193,000 after acquiring an additional 105 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Alexander's by 13.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 937 shares of the real estate investment trust's stock worth $198,000 after acquiring an additional 113 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Alexander's by 3.7% in the 1st quarter. Rhumbline Advisers now owns 3,688 shares of the real estate investment trust's stock valued at $771,000 after purchasing an additional 133 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Alexander's during the 4th quarter valued at $28,000. 31.99% of the stock is owned by hedge funds and other 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.