Insider Selling: Alexander’s (NYSE:ALX) Director Sells $112,941.00 in Stock

Alexander’s, Inc. (NYSE:ALX) Director Russell Wight, Jr. sold 423 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total transaction of $112,941.00. Following the transaction, the director owned 900 shares in the company, valued at $240,300. The trade was a 31.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alexander’s Stock Up 0.2%

Shares of NYSE ALX opened at $261.77 on Friday. Alexander’s, Inc. has a one year low of $201.28 and a one year high of $271.02. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92. The firm’s 50 day simple moving average is $246.56 and its two-hundred day simple moving average is $236.45. The stock has a market capitalization of $1.34 billion, a P/E ratio of 65.44 and a beta of 0.78.

Alexander’s (NYSE:ALX) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). The business had revenue of $53.41 million for the quarter, compared to the consensus estimate of $53.40 million. Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. As a group, analysts expect that Alexander’s, Inc. will post 12.08 EPS for the current fiscal year.

Alexander’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio is 450.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Covestor Ltd lifted its stake in Alexander’s by 28.9% in the fourth quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 54 shares during the period. Creative Planning lifted its stake in Alexander’s by 4.9% in the third quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after acquiring an additional 59 shares during the period. Daiwa Securities Group Inc. lifted its stake in Alexander’s by 9.9% in the second quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 69 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in Alexander’s by 7.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 70 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Alexander’s by 7.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Alexander’s currently has an average rating of “Hold”.

About Alexander’s

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.