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

Key Points

• A remarkable increase in trading volume was observed for Alexander's, Inc. (NYSE:ALX), with approximately 47,336 shares changing hands, a 37% rise from the previous session.
• The company reported Q2 earnings of $2.88 EPS, missing the consensus estimate of $3.08, and had revenue of $51.59 million, slightly below expectations.
• A quarterly dividend of $4.50 per share has been declared, resulting in a substantial annualized dividend yield of 7.7%, despite a high dividend payout ratio of 247.25%.

Alexander's, Inc. (NYSE:ALX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 47,336 shares were traded during mid-day trading, an increase of 37% from the previous session's volume of 34,657 shares.The stock last traded at $238.35 and had previously closed at $236.15.

Alexander's Stock Down 1.7%

The company has a market cap of $1.19 billion, a PE ratio of 31.89 and a beta of 0.86. The company has a debt-to-equity ratio of 6.79, a quick ratio of 9.78 and a current ratio of 9.78. The firm has a fifty day simple moving average of $235.26 and a 200 day simple moving average of $222.82.

Alexander's (NYSE:ALX - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $51.59 million for the quarter, compared to analyst estimates of $51.90 million. Alexander's had a return on equity of 22.12% and a net margin of 17.14%. Equities research analysts predict that Alexander's, Inc. will post 11.5 EPS for the current year.

Alexander's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Monday, August 11th. Alexander's's payout ratio is presently 247.25%.

Institutional Trading of Alexander's

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in Alexander's by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 100 shares during the period. Lazard Asset Management LLC bought a new position in shares of Alexander's in the 4th quarter worth $28,000. Cullen Frost Bankers Inc. boosted its position in shares of Alexander's by 177.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 128 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Alexander's by 89.1% during the second quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 98 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Alexander's by 37.1% in the 2nd quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 73 shares during the period. 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.