Alexander’s Inc. (ALX) traded on unusually high volume on Feb. 05, as the stock gained 0.5% to close at $353.80. On the day, Alexander’s Inc. saw 52,656 shares trade hands on 760 trades. Considering that the stock averages only a daily volume of 5,667 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $401.84 and $295.75 over the last 52-weeks, its 50-day SMA is now $308.94, and its 200-day SMA $341.15. Alexander’s Inc. has a P/B ratio of 6.06. It also has a P/E ratio of 42.3.
Alexander’s Inc is a real estate investment trust which leases, manages, and develops properties. The company’s portfolio comprises retail and office properties located in metropolitan and suburban areas of New York City. Alexander’s major tenants include financial institutions, fashion and accessories stores, toy shops, homeware and furniture stores, and department stores. The company generates revenue from leasing to tenants, in addition to parking space rents. The majority of consolidated revenue is derived from tenant leases.
Headquartered in Paramus, NJ, Alexander’s Inc. has 77 employees and is currently under the leadership of CEO Steven Roth.