Alexander's (NYSE:ALX) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Alexander's Inc. (NYSE: ALX) saw its share price fall below its 200-day moving average of $215.89, closing at $213.06 with significant trading volume.
• The company reported $4.06 EPS for the last quarter, exceeding the consensus estimate and marking a net margin of 18.03%.
• A quarterly dividend of $4.50 was announced, reflecting an annualized dividend yield of 8.4% and a payout ratio of 233.16%.

Shares of Alexander's, Inc. (NYSE:ALX - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $215.89 and traded as low as $211.74. Alexander's shares last traded at $213.06, with a volume of 159,213 shares trading hands.

Alexander's Trading Down 0.6%

The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 30.73 and a beta of 0.85. The company has a quick ratio of 11.19, a current ratio of 9.78 and a debt-to-equity ratio of 6.79. The business's 50 day simple moving average is $234.16 and its 200 day simple moving average is $216.44.

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

Alexander's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, August 11th. Alexander's's dividend payout ratio (DPR) is currently 247.25%.

Hedge Funds Weigh In On Alexander's

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Alexander's in the 4th quarter valued at $28,000. Cullen Frost Bankers Inc. boosted its stake in Alexander's by 177.8% during the second quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 128 shares in the last quarter. Signaturefd LLC boosted its stake in Alexander's by 37.1% during the second quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 73 shares in the last quarter. Strs Ohio bought a new position in Alexander's during the first quarter worth $84,000. Finally, Covestor Ltd boosted its stake in Alexander's by 4,655.6% during the first quarter. Covestor Ltd now owns 428 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 419 shares in the last quarter. 31.99% of the stock is 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.