Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Alexander’s, Inc. (NYSE:ALX) saw an uptick in trading volume on Thursday . 17,819 shares traded hands during trading, an increase of 26% from the previous session’s volume of 14,190 shares.The stock last traded at $223.67 and had previously closed at $220.36.

Alexander’s Trading Up 0.3%

The company has a debt-to-equity ratio of 5.59, a quick ratio of 13.18 and a current ratio of 13.18. The company’s fifty day simple moving average is $209.23 and its 200-day simple moving average is $207.12. The company has a market capitalization of $1.15 billion, a P/E ratio of 26.59 and a beta of 0.78.

Alexander’s (NYSE:ALX) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $4.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.49. Alexander’s had a net margin of 19.19% and a return on equity of 21.45%. The company had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $56.00 million. Research analysts predict that Alexander’s, Inc. will post 11.5 earnings per share for the current year.

Alexander’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 12th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date was Monday, May 12th. Alexander’s’s dividend payout ratio is currently 233.16%.

Institutional Trading of Alexander’s

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Alexander’s in the 4th quarter valued at about $28,000. Strs Ohio bought a new stake in shares of Alexander’s in the 1st quarter valued at about $84,000. Covestor Ltd boosted its holdings in shares of Alexander’s by 4,655.6% in the 1st quarter. Covestor Ltd now owns 428 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 419 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Alexander’s in the 4th quarter valued at about $154,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Alexander’s in the 4th quarter valued at about $163,000. 31.99% of the stock is currently owned by institutional investors.

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).