Alexander’s, Inc. (NYSE:ALX) Sees Significant Increase in Short Interest

Alexander’s, Inc. (NYSE:ALX) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 124,300 shares, a growth of 9.0% from the May 15th total of 114,000 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily volume of 8,800 shares, the days-to-cover ratio is presently 14.1 days.

Alexander’s Price Performance

Shares of NYSE ALX traded down $2.59 during midday trading on Monday, reaching $210.66. 11,110 shares of the stock traded hands, compared to its average volume of 9,007. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35. The stock has a market capitalization of $1.08 billion, a PE ratio of 10.09 and a beta of 0.79. Alexander’s has a one year low of $162.50 and a one year high of $237.18. The company’s 50 day moving average is $214.77 and its 200 day moving average is $214.03.

Alexander’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 13th were given a $4.50 dividend. The ex-dividend date was Friday, May 10th. This represents a $18.00 dividend on an annualized basis and a yield of 8.54%. Alexander’s’s dividend payout ratio is presently 86.04%.

Analyst Ratings Changes

Several research analysts have weighed in on ALX shares. StockNews.com downgraded Alexander’s from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler dropped 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.

Institutional Trading of Alexander’s

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in Alexander’s by 119.0% in the third quarter. PNC Financial Services Group Inc. now owns 138 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Alexander’s in the first quarter worth $114,000. SG Americas Securities LLC bought a new stake in Alexander’s in the fourth quarter worth $115,000. Allspring Global Investments Holdings LLC bought a new stake in Alexander’s in the first quarter worth $122,000. Finally, Daiwa Securities Group Inc. increased its stake in Alexander’s by 7.8% in the first quarter. Daiwa Securities Group Inc. now owns 695 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 50 shares during the period. 31.99% of the stock is currently owned by institutional investors.

Alexander’s Company Profile

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