Duality Advisers LP Invests $199,000 in Alexander & Baldwin, Inc. (NYSE:ALEX)

Duality Advisers LP bought a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,479 shares of the financial services provider’s stock, valued at approximately $199,000.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. grew its holdings in shares of Alexander & Baldwin by 88.5% during the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,240 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Alexander & Baldwin by 46.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,114 shares during the last quarter. Everett Harris & Co. CA acquired a new position in shares of Alexander & Baldwin during the 4th quarter valued at about $195,000. Cerity Partners LLC acquired a new position in shares of Alexander & Baldwin during the 4th quarter valued at about $211,000. Finally, CKW Financial Group boosted its position in shares of Alexander & Baldwin by 588.4% during the 4th quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 13,557 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALEX. Piper Sandler lowered their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report 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’s stock. Based on data from MarketBeat.com, Alexander & Baldwin presently has an average rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Trading Up 2.3 %

NYSE ALEX opened at $16.20 on Friday. The firm’s 50-day moving average is $16.35 and its two-hundred day moving average is $16.97. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $19.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $1.18 billion, a P/E ratio of 40.50 and a beta of 1.21.

Alexander & Baldwin Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be given a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.48%. Alexander & Baldwin’s payout ratio is currently 222.50%.

Alexander & Baldwin Company Profile

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.