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

Alexander’s, Inc. (NYSE:ALX)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $226.04 and traded as low as $215.58. Alexander’s shares last traded at $218.09, with a volume of 8,382 shares trading hands.

Wall Street Analyst Weigh In

ALX has been the topic of several analyst reports. Piper Sandler dropped their target price on shares of Alexander’s from $135.00 to $125.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. StockNews.com lowered shares of Alexander’s from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Alexander’s Stock Performance

The firm has a 50-day moving average of $231.46 and a 200 day moving average of $226.04. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 5.18.

Alexander’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 11th will be given a dividend of $4.50 per share. The ex-dividend date is Friday, November 8th. This represents a $18.00 dividend on an annualized basis and a yield of 8.25%. Alexander’s’s dividend payout ratio (DPR) is 194.81%.

Institutional Investors Weigh In On Alexander’s

A number of large investors have recently added to or reduced their stakes in ALX. State Street Corp boosted its stake in shares of Alexander’s by 1.6% in the third quarter. State Street Corp now owns 58,122 shares of the real estate investment trust’s stock worth $14,086,000 after acquiring an additional 927 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Alexander’s by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 34,745 shares of the real estate investment trust’s stock worth $7,812,000 after acquiring an additional 413 shares during the period. Denali Advisors LLC boosted its stake in shares of Alexander’s by 51.2% in the second quarter. Denali Advisors LLC now owns 19,500 shares of the real estate investment trust’s stock worth $4,385,000 after acquiring an additional 6,600 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Alexander’s by 24.6% in the third quarter. Los Angeles Capital Management LLC now owns 13,435 shares of the real estate investment trust’s stock worth $3,256,000 after acquiring an additional 2,652 shares during the period. Finally, Zacks Investment Management bought a new position in shares of Alexander’s in the third quarter worth about $3,148,000. Institutional investors 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).