Alexander's (NYSE:ALX) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Alexander's shares recently crossed above its 200-day moving average (200‑day MA $230.09), trading as high as $251 and last at $244.45 on volume ~69,183, a bullish technical signal.
• The company pays a large quarterly dividend of $4.50 ($18 annualized) for a yield of about 7.4%, but the dividend payout ratio is very high at 327.87%, raising sustainability concerns.
• Analysts hold an average Hold rating after Zacks downgraded the stock, while several institutions (M&T Bank, Healthcare of Ontario, Norges Bank, UBS) have recently added sizable positions; institutional ownership is ~31.99%.

Alexander's, Inc. (NYSE:ALX - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $230.09 and traded as high as $251.00. Alexander's shares last traded at $244.4490, with a volume of 69,183 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on ALX shares. Zacks Research lowered Alexander's from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Alexander's in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold".

Alexander's Stock Performance

The firm has a 50 day moving average of $237.57 and a 200-day moving average of $230.09. The company has a market cap of $1.25 billion, a P/E ratio of 44.53 and a beta of 0.82. The company has a quick ratio of 8.36, a current ratio of 8.36 and a debt-to-equity ratio of 7.60.

Alexander's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a dividend of $4.50 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.4%. Alexander's's dividend payout ratio is presently 327.87%.

Institutional Trading of Alexander's

Several institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp purchased a new stake in Alexander's in the fourth quarter worth about $60,372,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Alexander's by 626.7% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 43,600 shares of the real estate investment trust's stock valued at $9,502,000 after purchasing an additional 37,600 shares during the period. Norges Bank bought a new stake in shares of Alexander's in the 4th quarter valued at about $6,211,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Alexander's by 582.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 25,156 shares of the real estate investment trust's stock valued at $5,482,000 after purchasing an additional 21,471 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Alexander's by 182.0% in the 3rd quarter. UBS Group AG now owns 23,405 shares of the real estate investment trust's stock worth $5,488,000 after purchasing an additional 15,106 shares during the period. 31.99% of the stock is currently owned by institutional investors.

Alexander's Company Profile

Alexander's NYSE: ALX is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company's portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander's seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander's transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.

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