Alexander's (NYSE:ALX) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Alexander's shares recently climbed above their 200-day moving average, trading as high as $253.17 versus the 200‑day average of $231.17.
• The company pays a hefty quarterly dividend of $4.50 (annualized $18.00) for a yield of about 7.1%, but the payout ratio is an unsustainably high 327.87%.
• Analyst sentiment is lukewarm with an average rating of Hold after recent downgrades (including Zacks), despite a market cap of about $1.29 billion and a PE of 45.95.

Alexander's, Inc. (NYSE:ALX - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $231.17 and traded as high as $253.17. Alexander's shares last traded at $252.2420, with a volume of 50,153 shares.

Analyst Ratings Changes

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

Alexander's Stock Performance

The firm has a market cap of $1.29 billion, a PE ratio of 45.95 and a beta of 0.79. The company has a debt-to-equity ratio of 7.60, a current ratio of 8.36 and a quick ratio of 8.36. The stock has a 50-day moving average price of $239.18 and a 200 day moving average price of $231.17.

Alexander's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander's's payout ratio is 327.87%.

Institutional Investors Weigh In On Alexander's

A number of institutional investors have recently added to or reduced their stakes in ALX. Goldman Sachs Group Inc. grew its position in Alexander's by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust's stock valued at $74,284,000 after acquiring an additional 12,060 shares during the period. Jane Street Group LLC grew its position in Alexander's by 48.3% during the first quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust's stock valued at $1,045,000 after acquiring an additional 1,628 shares during the period. Strs Ohio purchased a new stake in Alexander's during the first quarter valued at about $84,000. Creative Planning boosted its position in shares of Alexander's by 17.3% in the second quarter. Creative Planning now owns 1,201 shares of the real estate investment trust's stock worth $271,000 after buying an additional 177 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Alexander's by 11.4% in the second quarter. Legal & General Group Plc now owns 2,975 shares of the real estate investment trust's stock worth $670,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors own 31.99% of the company's stock.

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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