Alexander’s (NYSE:ALX) Sees Strong Trading Volume

Shares of Alexander’s, Inc. (NYSE:ALX) saw unusually-high trading volume on Friday . Approximately 3,893 shares were traded during trading, a decline of 59% from the previous session’s volume of 9,518 shares.The stock last traded at $225.00 and had previously closed at $225.00.

Analysts Set New Price Targets

ALX has been the subject of several research reports. Piper Sandler cut their price target on Alexander’s from $160.00 to $145.00 and set an “underweight” rating for the company in a research note on Monday, May 13th. StockNews.com downgraded Alexander’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd.

Alexander’s Price Performance

The business has a fifty day moving average of $217.49 and a 200-day moving average of $217.08. The firm has a market cap of $1.15 billion, a PE ratio of 10.74 and a beta of 0.81. The company has a current ratio of 14.35, a quick ratio of 14.35 and a debt-to-equity ratio of 4.75.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 13th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 8.09%. The ex-dividend date of this dividend was Friday, May 10th. Alexander’s’s payout ratio is 86.04%.

Hedge Funds Weigh In On Alexander’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alexander’s by 19.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock valued at $74,988,000 after purchasing an additional 57,951 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Alexander’s by 8.1% in 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 purchasing an additional 250 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Alexander’s in the 1st quarter valued at $201,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Alexander’s in the 4th quarter valued at $459,000. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Company Profile

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