Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume Following Dividend Announcement

Shares of Alexander’s, Inc. (NYSE:ALX) saw unusually-strong trading volume on Wednesday after the company announced a dividend. Approximately 7,408 shares changed hands during trading, a decline of 26% from the previous session’s volume of 10,037 shares.The stock last traded at $239.83 and had previously closed at $240.50.

The newly announced dividend which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date of this dividend is Monday, August 12th. Alexander’s’s dividend payout ratio (DPR) is currently 86.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALX. Piper Sandler decreased their price target on shares of Alexander’s from $145.00 to $135.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. StockNews.com raised shares of Alexander’s from a “hold” rating to a “buy” rating in a report on Tuesday.

Alexander’s Trading Down 3.3 %

The company has a 50-day moving average price of $222.97 and a 200-day moving average price of $219.31. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35.

Hedge Funds Weigh In On Alexander’s

Several institutional investors and hedge funds have recently modified their holdings of ALX. Vanguard Group Inc. boosted its holdings in shares of Alexander’s by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock valued at $59,582,000 after purchasing an additional 10,513 shares during the last quarter. SG Americas Securities LLC acquired a new position in Alexander’s in the fourth quarter worth $115,000. Asset Management One Co. Ltd. grew its position in shares of Alexander’s by 8.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,331 shares of the real estate investment trust’s stock valued at $726,000 after buying an additional 250 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Alexander’s by 21.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,525 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 450 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its stake in Alexander’s by 2.2% in the fourth quarter. GraniteShares Advisors LLC now owns 6,692 shares of the real estate investment trust’s stock valued at $1,429,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

About Alexander’s

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