Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Alexander & Baldwin, Inc. (NYSE:ALEX) has earned a consensus rating of “Moderate Buy” from the four research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.33.

A number of equities research analysts have recently weighed in on ALEX shares. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. Piper Sandler upgraded Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their target price for the company from $17.00 to $22.00 in a research report on Friday, July 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALEX. Louisiana State Employees Retirement System raised its position in shares of Alexander & Baldwin by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 600 shares during the last quarter. Van ECK Associates Corp increased its position in Alexander & Baldwin by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 733 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Alexander & Baldwin by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 822 shares during the period. ProShare Advisors LLC boosted its stake in shares of Alexander & Baldwin by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,001 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Alexander & Baldwin by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 141,890 shares of the financial services provider’s stock valued at $2,337,000 after purchasing an additional 1,200 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $19.28 on Friday. The stock has a fifty day moving average of $19.26 and a 200-day moving average of $17.48. The stock has a market capitalization of $1.40 billion, a P/E ratio of 31.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 4.62%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio is presently 145.90%.

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.