Alexander's (NYSE:ALX) Sees Large Volume Increase - Here's Why

Alexander's, Inc. (NYSE:ALX - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 67,321 shares were traded during trading, an increase of 228% from the previous session's volume of 20,548 shares.The stock last traded at $231.99 and had previously closed at $232.83.

Alexander's Trading Down 0.5%

The business's 50-day moving average price is $223.47 and its two-hundred day moving average price is $209.50. The company has a debt-to-equity ratio of 6.06, a current ratio of 11.19 and a quick ratio of 11.19. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 30.22 and a beta of 0.85.

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 for the quarter, beating analysts' consensus estimates of $3.57 by $0.49. The business had revenue of $54.92 million during the quarter, compared to analyst estimates of $56.00 million. Alexander's had a net margin of 18.03% and a return on equity of 21.34%. Equities analysts expect that Alexander's, Inc. will post 11.5 earnings per share for the current year.

Alexander's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 12th were issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.72%. The ex-dividend date was Monday, May 12th. Alexander's's dividend payout ratio (DPR) is 233.16%.

Institutional Trading of Alexander's

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in Alexander's in the 4th quarter valued at about $28,000. Strs Ohio purchased a new stake in Alexander's in the 1st quarter valued at about $84,000. Covestor Ltd grew its holdings in shares of Alexander's by 4,655.6% during the 1st quarter. Covestor Ltd now owns 428 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 419 shares during the period. AlphaQuest LLC purchased a new stake in shares of Alexander's during the 4th quarter worth about $154,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in Alexander's in the fourth quarter valued at approximately $163,000. Hedge funds and other institutional investors own 31.99% of the company's stock.

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.