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

Shares of Alexander’s, Inc. (NYSE:ALX) reached a new 52-week high on Thursday . The company traded as high as $281.95 and last traded at $281.90, with a volume of 6086 shares. The stock had previously closed at $277.93.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Alexander’s Stock Up 2.5%

The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 70.90 and a beta of 0.76. The firm’s 50-day simple moving average is $258.11 and its 200-day simple moving average is $245.52. The company has a debt-to-equity ratio of 9.17, a quick ratio of 6.92 and a current ratio of 6.92.

Alexander’s (NYSE:ALX) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). The business had revenue of $53.41 million during 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%. Sell-side analysts forecast that Alexander’s, Inc. will post 12.08 earnings per share for the current year.

Alexander’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were paid 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 6.3%. Alexander’s’s dividend payout ratio is 450.00%.

Insiders Place Their Bets

In related news, Director Russell B. 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 transaction of $112,941.00. Following the transaction, the director owned 900 shares of the company’s stock, valued at $240,300. This trade represents a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 26.36% of the stock is owned by insiders.

Institutional Trading of Alexander’s

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 100 shares during the period. Van ECK Associates Corp acquired a new stake in Alexander’s in the 3rd quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC bought a new stake in Alexander’s in the 4th quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its stake in shares of 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 in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Alexander’s by 104.0% in the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 31.99% of the company’s stock.

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.