FY2024 Earnings Forecast for Alexander & Baldwin, Inc. (NYSE:ALEX) Issued By Sidoti Csr

Alexander & Baldwin, Inc. (NYSE:ALEX) – Research analysts at Sidoti Csr lowered their FY2024 earnings estimates for Alexander & Baldwin in a report released on Thursday, April 18th. Sidoti Csr analyst B. Mccarthy now forecasts that the financial services provider will earn $1.03 per share for the year, down from their prior estimate of $1.05. The consensus estimate for Alexander & Baldwin’s current full-year earnings is $1.02 per share.

Several other equities analysts also recently issued reports on ALEX. Piper Sandler decreased their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX opened at $16.09 on Friday. 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 company has a market capitalization of $1.17 billion, a PE ratio of 40.21 and a beta of 1.21. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $19.99. The company’s fifty day moving average price is $16.50 and its 200 day moving average price is $16.97.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.2225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 222.50%.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Alexander & Baldwin by 0.7% in the third quarter. Vanguard Group Inc. now owns 11,741,494 shares of the financial services provider’s stock valued at $194,674,000 after purchasing an additional 80,656 shares during the period. State Street Corp lifted its stake in Alexander & Baldwin by 2.6% in the second quarter. State Street Corp now owns 4,131,103 shares of the financial services provider’s stock worth $74,933,000 after acquiring an additional 104,301 shares during the last quarter. Franklin Resources Inc. lifted its stake in Alexander & Baldwin by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 3,678,993 shares of the financial services provider’s stock worth $69,974,000 after acquiring an additional 39,942 shares during the last quarter. Reinhart Partners LLC. lifted its stake in Alexander & Baldwin by 8.7% in the fourth quarter. Reinhart Partners LLC. now owns 2,464,255 shares of the financial services provider’s stock worth $46,870,000 after acquiring an additional 196,303 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Alexander & Baldwin by 2.8% in the second quarter. Geode Capital Management LLC now owns 1,595,884 shares of the financial services provider’s stock worth $29,652,000 after acquiring an additional 43,822 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.