Sidoti Csr Weighs in on Alexander & Baldwin, Inc.’s Q3 2024 Earnings (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX) – Sidoti Csr reduced their Q3 2024 earnings estimates for Alexander & Baldwin in a research report issued to clients and investors on Friday, April 26th. Sidoti Csr analyst B. Mccarthy now expects that the financial services provider will earn $0.25 per share for the quarter, down from their previous forecast of $0.27. The consensus estimate for Alexander & Baldwin’s current full-year earnings is $1.11 per share. Sidoti Csr also issued estimates for Alexander & Baldwin’s Q1 2025 earnings at $0.31 EPS and Q2 2025 earnings at $0.30 EPS.

ALEX has been the subject of a number of other research reports. Piper Sandler reduced their price objective on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. TheStreet cut 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Stock Up 2.3 %

NYSE:ALEX opened at $16.19 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $16.35 and a 200-day moving average of $16.97. The firm has a market capitalization of $1.18 billion, a PE ratio of 26.54 and a beta of 1.21. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $19.99.

Alexander & Baldwin Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be given a dividend of $0.222 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 annualized dividend and a dividend yield of 5.48%. Alexander & Baldwin’s dividend payout ratio is presently 145.90%.

Institutional Trading of Alexander & Baldwin

Several large investors have recently added to or reduced their stakes in ALEX. Franklin Resources Inc. increased its stake in Alexander & Baldwin by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 3,678,993 shares of the financial services provider’s stock valued at $69,974,000 after buying an additional 39,942 shares during the period. Reinhart Partners LLC. increased its stake in shares of Alexander & Baldwin by 8.7% during the fourth quarter. Reinhart Partners LLC. now owns 2,464,255 shares of the financial services provider’s stock valued at $46,870,000 after acquiring an additional 196,303 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Alexander & Baldwin by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,461,071 shares of the financial services provider’s stock valued at $27,790,000 after acquiring an additional 60,119 shares during the period. DigitalBridge Group Inc. raised its holdings in Alexander & Baldwin by 26.9% during the third quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after purchasing an additional 225,441 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Alexander & Baldwin by 3.5% in the fourth quarter. Victory Capital Management Inc. now owns 884,660 shares of the financial services provider’s stock worth $16,826,000 after purchasing an additional 29,976 shares during the period. 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.