Alexander’s (NYSE:ALX) Director Russell Wight Jr Sells 423 Shares

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

Alexander’s Stock Performance

ALX stock traded up $1.99 during trading on Wednesday, hitting $267.83. 24,094 shares of the company traded hands, compared to its average volume of 67,706. The stock’s 50-day simple moving average is $244.73 and its 200 day simple moving average is $235.44. 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 company has a market cap of $1.37 billion, a PE ratio of 66.96 and a beta of 0.78. Alexander’s, Inc. has a 1 year low of $201.28 and a 1 year high of $271.02.

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

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were given a $4.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.7%. Alexander’s’s payout ratio is 450.00%.

Hedge Funds Weigh In On Alexander’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Alexander’s by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new position in Alexander’s during the 3rd quarter worth about $32,000. Garton & Associates Financial Advisors LLC purchased a new stake in Alexander’s during the 4th quarter worth about $38,000. Tower Research Capital LLC TRC increased 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 purchasing an additional 98 shares during the period. Finally, Larson Financial Group LLC increased 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 purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 31.99% of the company’s stock.

Analysts Set New Price Targets

ALX has been the subject of several research reports. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Alexander’s Company Profile

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.