Alexander’s (NYSE:ALX) Sets New 12-Month High – Should You Buy?

Alexander’s, Inc. (NYSE:ALX) reached a new 52-week high on Friday . The stock traded as high as $272.25 and last traded at $272.34, with a volume of 23543 shares trading hands. The stock had previously closed at $266.37.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Monday, April 20th. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Alexander’s Stock Up 2.2%

The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. The business has a 50-day simple moving average of $250.82 and a two-hundred day simple moving average of $239.73. The stock has a market capitalization of $1.39 billion, a P/E ratio of 68.09 and a beta of 0.78.

Alexander’s (NYSE:ALX) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). The company 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%. Equities research analysts forecast that Alexander’s, Inc. will post 12.08 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.6%. Alexander’s’s dividend payout ratio (DPR) is currently 450.00%.

Insider Buying and Selling at Alexander’s

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total transaction of $112,941.00. Following the completion of the sale, the director directly owned 900 shares of the company’s stock, valued at approximately $240,300. The trade was a 31.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alexander’s

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of Alexander’s by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Van ECK Associates Corp bought a new position in Alexander’s in the third quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC bought a new position in Alexander’s in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC grew its holdings in Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 104 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Alexander’s by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 31.99% of the company’s stock.

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.