Alexander's (NYSE:ALX) Sees Strong Trading Volume - Still a 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%.

Shares of Alexander's, Inc. (NYSE:ALX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 47,336 shares changed hands 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 Performance

The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 6.79. The stock has a 50 day simple moving average of $235.26 and a two-hundred day simple moving average of $222.77. The stock has a market capitalization of $1.19 billion, a P/E ratio of 31.89 and a beta of 0.86.

Alexander's (NYSE:ALX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $3.08 by ($0.20). The company had revenue of $51.59 million during the quarter, compared to the consensus estimate of $51.90 million. Alexander's had a net margin of 17.14% and a return on equity of 22.12%. On average, equities analysts forecast that Alexander's, Inc. will post 11.5 EPS for the current fiscal year.

Alexander's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Monday, August 11th. Alexander's's dividend payout ratio (DPR) is currently 247.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALX. Citadel Advisors LLC bought a new position in shares of Alexander's during the 4th quarter worth approximately $684,000. GAMMA Investing LLC boosted its stake in shares of Alexander's by 29,778.6% during the 1st quarter. GAMMA Investing LLC now owns 4,183 shares of the real estate investment trust's stock worth $875,000 after acquiring an additional 4,169 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Alexander's by 75.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,090 shares of the real estate investment trust's stock worth $618,000 after acquiring an additional 1,331 shares during the period. Beverly Hills Private Wealth LLC bought a new position in shares of Alexander's during the 1st quarter worth approximately $1,387,000. Finally, Bank of America Corp DE boosted its stake in shares of Alexander's by 17.5% during the 4th quarter. Bank of America Corp DE now owns 4,822 shares of the real estate investment trust's stock worth $965,000 after acquiring an additional 718 shares during the period. 31.99% of the stock is currently owned by 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.