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

Shares of Alexander’s, Inc. (NYSE:ALX) 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut 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. StockNews.com cut shares of Alexander’s from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Alexander’s Price Performance

The company has a debt-to-equity ratio of 5.18, a current ratio of 10.21 and a quick ratio of 10.21. The company’s fifty day simple moving average is $231.46 and its 200 day simple moving average is $226.04.

Alexander’s Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in shares of Alexander’s by 15.6% in the 1st quarter. Sei Investments Co. now owns 1,944 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 262 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Alexander’s by 7.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,119 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 73 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Alexander’s in the 1st quarter worth about $114,000. Price T Rowe Associates Inc. MD increased its stake in shares of Alexander’s by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,265 shares of the real estate investment trust’s stock worth $709,000 after acquiring an additional 95 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Alexander’s by 7.9% in the 2nd quarter. Principal Financial Group Inc. now owns 997 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 73 shares in the last quarter. 31.99% of the stock is currently owned by institutional investors.

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).