Alexander's (NYSE:ALX) Reaches New 52-Week High - Here's Why

Alexander's, Inc. (NYSE:ALX - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $254.80 and last traded at $254.11, with a volume of 22394 shares traded. The stock had previously closed at $248.35.

Alexander's Stock Down 0.2%

The firm has a 50-day moving average price of $229.61 and a 200 day moving average price of $212.68. 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 company has a market cap of $1.32 billion, a price-to-earnings ratio of 33.49 and a beta of 0.85.

Alexander's (NYSE:ALX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $4.06 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.49. The company had revenue of $54.92 million during the quarter, compared to analysts' expectations of $56.00 million. Alexander's had a return on equity of 21.34% and a net margin of 18.03%. Sell-side analysts predict that Alexander's, Inc. will post 11.5 EPS for the current year.

Alexander's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 12th were paid a dividend of $4.50 per share. The ex-dividend date was Monday, May 12th. This represents a $18.00 annualized dividend and a dividend yield of 6.96%. Alexander's's payout ratio is currently 233.16%.

Hedge Funds Weigh In On Alexander's

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Alexander's in the fourth quarter worth about $28,000. Signaturefd LLC raised its position in shares of Alexander's by 37.1% during 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. Strs Ohio bought a new stake in shares of Alexander's during the 1st quarter valued at $84,000. Covestor Ltd raised its position 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 valued at $89,000 after purchasing an additional 419 shares during the period. Finally, CWM LLC raised its position in shares of Alexander's by 275.0% during the 2nd quarter. CWM LLC now owns 450 shares of the real estate investment trust's stock valued at $101,000 after purchasing an additional 330 shares during the period. 31.99% of the stock is owned by 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.