Alexander's (NYSE:ALX) Stock Breaks Below Two Hundred Day Moving Average - What's Next?

Key Points

• Alexander’s shares fell below their 200-day moving average, trading as low as $232.21 versus the $256.49 average, with the stock last at approximately $233.12.
• Analyst opinions are mixed: upgrades from Wall Street Zen and Weiss Ratings were offset by Piper Sandler’s price-target cut to $192 and Zacks Research’s downgrade. The consensus rating is Hold, with a $192 average target.
• The REIT reported quarterly EPS and revenue slightly above expectations and maintains a substantial dividend of $4.50 per quarter, or $18 annually, representing a 7.7% yield.

Alexander's, Inc. (NYSE:ALX - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $256.49 and traded as low as $232.21. Alexander's shares last traded at $233.1150, with a volume of 44,820 shares traded.

Analyst Ratings Changes

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

Alexander's Stock Down 0.2%

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.05 and a beta of 0.80. The firm's fifty day moving average is $254.76 and its 200-day moving average is $256.49. The company has a debt-to-equity ratio of 3.73, a current ratio of 16.78 and a quick ratio of 16.78.

Alexander's (NYSE:ALX - Get Free Report) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.02. The business had revenue of $54.71 million for the quarter, compared to analyst estimates of $54.10 million. Alexander's had a net margin of 79.06% and a return on equity of 123.09%. On average, sell-side analysts predict 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 was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Monday, August 10th. Alexander's's dividend payout ratio (DPR) is presently 54.46%.

Institutional Investors Weigh In On Alexander's

Institutional investors and hedge funds have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. increased its position in Alexander's by 7.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust's stock valued at $227,000 after acquiring an additional 70 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Alexander's by 7.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust's stock valued at $274,000 after acquiring an additional 83 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Alexander's by 19.8% during the third quarter. State of Alaska Department of Revenue now owns 1,271 shares of the real estate investment trust's stock valued at $311,000 after acquiring an additional 210 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alexander's by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 15,869 shares of the real estate investment trust's stock valued at $3,748,000 after acquiring an additional 249 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Alexander's by 11.1% during the first quarter. Bank of America Corp DE now owns 2,860 shares of the real estate investment trust's stock worth $676,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 31.99% of the company's stock.

About Alexander's

Alexander's, Inc NYSE: ALX is a self-administered and self-managed real estate investment trust that owns, manages and develops commercial and residential properties primarily in the New York metropolitan area. The company's portfolio is concentrated in high-density locations with access to transportation, employment centers and retail activity.

Alexander's properties include 731 Lexington Avenue in Manhattan, a mixed-use office and retail complex that includes Bloomberg's headquarters; Rego Park Center, a retail and office complex in Queens; and The Alexander, a residential apartment property in Manhattan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.