Sidoti Csr Equities Analysts Reduce Earnings Estimates for Alexander & Baldwin, Inc. (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX) – Sidoti Csr lowered their FY2024 EPS estimates for shares of Alexander & Baldwin in a note issued to investors on Thursday, April 18th. Sidoti Csr analyst B. Mccarthy now forecasts that the financial services provider will post earnings per share of $1.03 for the year, down from their previous forecast of $1.05. The consensus estimate for Alexander & Baldwin’s current full-year earnings is $1.02 per share.

ALEX has been the subject of a number of other reports. Piper Sandler decreased their price objective on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a 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 given a buy rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Trading Up 0.8 %

Shares of NYSE ALEX opened at $15.76 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 39.40 and a beta of 1.21. The firm has a 50 day moving average price of $16.52 and a two-hundred day moving average price of $16.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $19.99.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.2225 dividend. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.89 annualized dividend and a yield of 5.65%. Alexander & Baldwin’s payout ratio is presently 222.50%.

Institutional Trading of Alexander & Baldwin

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at about $11,959,000. Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 526,872 shares during the period. State Street Corp lifted its position in shares of Alexander & Baldwin by 14.5% during the 1st quarter. State Street Corp now owns 4,026,802 shares of the financial services provider’s stock valued at $94,133,000 after acquiring an additional 508,580 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Alexander & Baldwin during the first quarter worth $7,731,000. Finally, Clearbridge Investments LLC boosted its position in shares of Alexander & Baldwin by 244.6% during the 4th quarter. Clearbridge Investments LLC now owns 500,998 shares of the financial services provider’s stock worth $9,529,000 after purchasing an additional 355,601 shares in 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.