Nisa Investment Advisors LLC Decreases Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Nisa Investment Advisors LLC trimmed its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,094 shares of the financial services provider’s stock after selling 3,574 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Alexander & Baldwin worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ALEX. Norges Bank bought a new stake in Alexander & Baldwin during the 4th quarter valued at $11,959,000. Goldman Sachs Group Inc. increased its position in Alexander & Baldwin by 196.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 794,748 shares of the financial services provider’s stock valued at $14,266,000 after purchasing an additional 526,872 shares during the period. State Street Corp raised its holdings in Alexander & Baldwin by 14.5% in the 1st quarter. State Street Corp now owns 4,026,802 shares of the financial services provider’s stock worth $94,133,000 after purchasing an additional 508,580 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Alexander & Baldwin in the first quarter worth about $7,731,000. Finally, DigitalBridge Group Inc. boosted its position in Alexander & Baldwin by 26.9% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock valued at $17,774,000 after acquiring an additional 225,441 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Price Performance

ALEX stock opened at $15.96 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 39.90 and a beta of 1.21. The firm has a 50 day moving average price of $16.58 and a 200-day moving average price of $17.00. Alexander & Baldwin, Inc. has a 52-week low of $15.56 and a 52-week high of $19.99.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 5.58%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s payout ratio is 222.50%.

Analyst Ratings Changes

ALEX has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.50.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.