Alexander’s (NYSE:ALX) Sees Strong Trading Volume

Alexander’s, Inc. (NYSE:ALX) shares saw unusually-strong trading volume on Tuesday . Approximately 15,648 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 9,672 shares.The stock last traded at $239.10 and had previously closed at $236.24.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALX shares. Piper Sandler decreased their target price on Alexander’s from $145.00 to $135.00 and set an “underweight” rating on the stock in a report on Monday. StockNews.com downgraded shares of Alexander’s from a “buy” rating to a “hold” rating in a report on Monday.

Alexander’s Trading Up 2.8 %

The business has a fifty day moving average price of $218.74 and a 200-day moving average price of $218.01. The company has a quick ratio of 14.35, a current ratio of 14.35 and a debt-to-equity ratio of 4.75. The company has a market cap of $1.21 billion, a P/E ratio of 11.29 and a beta of 0.81.

Alexander’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 13th were issued a dividend of $4.50 per share. The ex-dividend date was Friday, May 10th. This represents a $18.00 annualized dividend and a yield of 7.41%. Alexander’s’s payout ratio is currently 86.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Alexander’s by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock valued at $74,988,000 after acquiring an additional 57,951 shares during the period. Vanguard Group Inc. grew its position in shares of Alexander’s by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock worth $59,582,000 after purchasing an additional 10,513 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Alexander’s by 220.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,973 shares of the real estate investment trust’s stock worth $2,130,000 after purchasing an additional 6,863 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Alexander’s in the fourth quarter valued at approximately $459,000. Finally, Denali Advisors LLC grew its position in Alexander’s by 19.4% during the 1st quarter. Denali Advisors LLC now owns 12,900 shares of the real estate investment trust’s stock worth $2,801,000 after acquiring an additional 2,100 shares during the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

About Alexander’s

Alexander's, Inc is a real estate investment trust which has five properties in New York City.