Alexander’s (NYSE:ALX) Sees Large Volume Increase

Alexander’s, Inc. (NYSE:ALX) saw unusually-high trading volume on Tuesday . Approximately 15,648 shares were traded during trading, an increase of 62% from the previous session’s volume of 9,672 shares.The stock last traded at $239.10 and had previously closed at $236.24.

Analyst Ratings Changes

ALX has been the subject of several recent research reports. Piper Sandler dropped their price target on Alexander’s from $145.00 to $135.00 and set an “underweight” rating for the company in a research report on Monday. StockNews.com downgraded Alexander’s from a “buy” rating to a “hold” rating in a research report on Monday.

Alexander’s Stock Performance

The firm has a market cap of $1.24 billion, a PE ratio of 11.34 and a beta of 0.81. 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 50-day moving average price of $219.98 and a 200 day moving average price of $218.44.

Alexander’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 13th were given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date was Friday, May 10th. Alexander’s’s dividend payout ratio is currently 86.04%.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in shares of Alexander’s by 19.8% in the fourth 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 during the period. Vanguard Group Inc. grew its position in shares of Alexander’s by 3.3% in the third 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 during the period. Denali Advisors LLC grew its position in shares of Alexander’s by 19.4% in the first quarter. Denali Advisors LLC now owns 12,900 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 2,100 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Alexander’s by 16.1% in the first quarter. Los Angeles Capital Management LLC now owns 11,583 shares of the real estate investment trust’s stock valued at $2,515,000 after purchasing an additional 1,610 shares during the period. Finally, GraniteShares Advisors LLC grew its position in Alexander’s by 14.6% during the first quarter. GraniteShares Advisors LLC now owns 7,672 shares of the real estate investment trust’s stock valued at $1,666,000 after acquiring an additional 980 shares during the period. 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.