Alexander's (NYSE:ALX) Share Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Alexander’s shares crossed above their 200-day moving average, trading as high as $254.50 and closing around $252.02.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; the consensus is “Hold” with an average price target of $192, well below the stock’s trading price.
• The REIT reported quarterly EPS of $3.02, slightly above estimates, and declared a $4.50 quarterly dividend, equal to an annualized $18.00 payout and a 7.1% yield.

Alexander's, Inc. (NYSE:ALX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $251.59 and traded as high as $254.50. Alexander's shares last traded at $252.02, with a volume of 80,050 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALX shares. Zacks Research cut shares of Alexander's from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 25th. Wall Street Zen upgraded shares of Alexander's from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Alexander's from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, August 4th. Finally, Piper Sandler cut their price objective on shares of Alexander's from $212.00 to $192.00 and set an "underweight" rating for the company in a research report on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $192.00.

Alexander's Price Performance

The company has a market cap of $1.29 billion, a price-to-earnings ratio of 7.63 and a beta of 0.80. The company has a debt-to-equity ratio of 3.73, a quick ratio of 16.78 and a current ratio of 16.78. The business has a fifty day moving average price of $250.62 and a 200 day moving average price of $251.59.

Alexander's (NYSE:ALX - Get Free Report) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.02. The firm had revenue of $54.71 million for the quarter, compared to analysts' expectations of $54.10 million. Alexander's had a net margin of 79.06% and a return on equity of 123.09%. As a group, research analysts anticipate that Alexander's, Inc. will post 16.52 earnings per share for the current year.

Alexander's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, November 9th will be issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Monday, November 9th. Alexander's's payout ratio is 54.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in Alexander's by 8.9% during the third quarter. Asset Management One Co. Ltd. now owns 2,985 shares of the real estate investment trust's stock worth $736,000 after acquiring an additional 244 shares in the last quarter. Park Avenue Securities LLC increased its stake in Alexander's by 49.7% in the third quarter. Park Avenue Securities LLC now owns 3,999 shares of the real estate investment trust's stock valued at $986,000 after purchasing an additional 1,327 shares in the last quarter. Inspire Investing LLC increased its stake in Alexander's by 6.1% in the third quarter. Inspire Investing LLC now owns 2,567 shares of the real estate investment trust's stock valued at $633,000 after purchasing an additional 147 shares in the last quarter. Compass Wealth Management LLC acquired a new position in shares of Alexander's during the third quarter valued at about $25,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Alexander's by 64.5% during the third quarter. Nisa Investment Advisors LLC now owns 125 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 49 shares during the period. Institutional investors own 31.99% of the company's stock.

About Alexander's

Alexander's, Inc NYSE: ALX is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company's portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.

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