Alexander's (NYSE:ALX) Trading Down 3.6% - Should You Sell?

Key Points

• Alexander's, Inc. (NYSE:ALX) shares fell by 3.6% on Monday, closing at $236.40 after previously trading as low as $238.35, with trading volume down 51% from average levels.
• The real estate investment trust reported $4.06 earnings per share for the latest quarter, beating estimates of $3.57, but revenue of $54.92 million was below the forecast of $56.00 million.
• A $4.50 quarterly dividend was declared, representing an annual yield of 8.3%, with a remarkably high dividend payout ratio of 233.16%.

Shares of Alexander's, Inc. (NYSE:ALX - Get Free Report) dropped 3.6% during trading on Monday . The stock traded as low as $238.35 and last traded at $236.40. Approximately 15,138 shares were traded during trading, a decline of 51% from the average daily volume of 30,891 shares. The stock had previously closed at $245.25.

Alexander's Stock Down 11.6%

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 firm's 50-day moving average price is $233.91 and its 200 day moving average price is $215.74. The firm has a market cap of $1.11 billion, a P/E ratio of 28.07 and a beta of 0.85.

Alexander's (NYSE:ALX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.49. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $56.00 million. Alexander's had a net margin of 18.03% and a return on equity of 21.34%. On average, equities research analysts expect that Alexander's, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be paid a $4.50 dividend. The ex-dividend date is Monday, August 11th. This represents a $18.00 annualized dividend and a dividend yield of 8.3%. Alexander's's dividend payout ratio (DPR) is presently 233.16%.

Institutional Investors Weigh In On Alexander's

Several large investors have recently made changes to their positions in ALX. Lazard Asset Management LLC bought a new stake in Alexander's during the fourth quarter worth approximately $28,000. Cullen Frost Bankers Inc. raised its holdings 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 purchasing an additional 128 shares in the last quarter. Signaturefd LLC raised its holdings 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 purchasing an additional 73 shares in the last quarter. Strs Ohio bought a new stake in Alexander's during the first quarter worth approximately $84,000. Finally, Covestor Ltd raised its holdings 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 purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 31.99% of the company's stock.

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.

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