Alexander's (NYSE:ALX) Stock Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Alexander’s shares fell below their 200-day moving average, trading as low as $247.02 versus the $256.52 average, signaling recent technical weakness.
• Analyst sentiment remains mixed, with ratings spanning Buy, Hold, and Sell; the consensus is “Hold” with a $212 price target, below the latest share price of about $247.
• The REIT reported quarterly earnings and revenue slightly above estimates and maintains an attractive 7.3% dividend yield, paying $4.50 per share quarterly, while institutional ownership stands at 31.99%.

Alexander's, Inc. (NYSE:ALX - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $256.52 and traded as low as $247.02. Alexander's shares last traded at $247.1950, with a volume of 36,372 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen upgraded Alexander's from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Piper Sandler lifted their price target on Alexander's from $190.00 to $212.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Zacks Research lowered Alexander's from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Finally, Weiss Ratings upgraded Alexander's from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Alexander's has a consensus rating of "Hold" and a consensus target price of $212.00.

Alexander's Stock Performance

The firm's fifty day moving average price is $263.03 and its 200-day moving average price is $256.52. The company has a market cap of $1.26 billion, a P/E ratio of 7.48 and a beta of 0.78. The company has a current ratio of 16.78, a quick ratio of 16.78 and a debt-to-equity ratio of 3.73.

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

Alexander's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a dividend of $4.50 per share. The ex-dividend date was Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.3%. Alexander's's payout ratio is currently 54.46%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Alexander's by 582.3% in the 1st quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust's stock valued at $17,651,000 after buying an additional 63,776 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alexander's by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 34,444 shares of the real estate investment trust's stock worth $8,136,000 after acquiring an additional 724 shares during the period. Punch & Associates Investment Management Inc. bought a new position in shares of Alexander's during the 1st quarter worth about $4,822,000. Bank of New York Mellon Corp acquired a new stake in shares of Alexander's during the 2nd quarter valued at about $4,512,000. Finally, Marnell Management LLC acquired a new stake in shares of Alexander's during the 4th quarter valued at about $2,624,000. 31.99% of the stock is currently owned by institutional investors and hedge funds.

About Alexander's

Alexander's, Inc NYSE: ALX is a real estate investment trust (REIT) that owns, manages, develops and redevelops properties in the greater New York City metropolitan area. The company's portfolio includes office, retail and residential real estate, with properties located primarily in New York City and northern New Jersey.

Its properties include mixed-use and commercial developments such as 731 Lexington Avenue in Manhattan, which includes office and retail space, as well as residential and retail properties in locations including Rego Park, Queens.

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