Alexander’s (NYSE:ALX) Sees Large Volume Increase

Alexander’s, Inc. (NYSE:ALX) shares saw unusually-high trading volume on Tuesday . Approximately 15,648 shares were traded 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 Upgrades and Downgrades

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

Alexander’s Stock Performance

The firm’s fifty day moving average is $218.74 and its 200 day moving average is $218.01. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.29 and a beta of 0.81. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Friday, May 10th. Alexander’s’s dividend payout ratio (DPR) is currently 86.04%.

Hedge Funds Weigh In On Alexander’s

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in Alexander’s in the 1st quarter worth about $114,000. SG Americas Securities LLC bought a new stake in Alexander’s in the fourth quarter worth approximately $115,000. Allspring Global Investments Holdings LLC bought a new position in shares of Alexander’s during the 1st quarter valued at $122,000. Daiwa Securities Group Inc. lifted its stake in shares of Alexander’s by 7.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 695 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 50 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Alexander’s in the first quarter worth $201,000. 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.