Alexander’s (NYSE:ALX) Shares Cross Above 200-Day Moving Average – Here’s Why

Alexander’s, Inc. (NYSE:ALX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $222.85 and traded as high as $232.16. Alexander’s shares last traded at $230.73, with a volume of 10,113 shares traded.

Analysts Set New Price Targets

ALX has been the subject of a number of recent research reports. StockNews.com cut shares of Alexander’s from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler dropped their price objective on shares of Alexander’s from $135.00 to $125.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th.

Alexander’s Stock Performance

The stock’s 50-day moving average is $231.88 and its 200-day moving average is $222.85. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 11.03 and a beta of 0.81. The company has a debt-to-equity ratio of 5.09, a current ratio of 12.66 and a quick ratio of 12.66.

Alexander’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a dividend of $4.50 per share. The ex-dividend date was Monday, August 12th. This represents a $18.00 dividend on an annualized basis and a yield of 7.80%. Alexander’s’s dividend payout ratio (DPR) is currently 86.04%.

Institutional Trading of Alexander’s

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Alexander’s during the first quarter worth approximately $114,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Alexander’s in the 1st quarter valued at $122,000. Daiwa Securities Group Inc. boosted its holdings 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. Principal Financial Group Inc. acquired a new position in shares of Alexander’s in the 1st quarter valued at $201,000. Finally, SG Americas Securities LLC acquired a new position in shares of Alexander’s in the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 31.99% of the company’s stock.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).