Alexander & Baldwin, Inc. (ALEX) To Go Ex-Dividend on March 14th

Alexander & Baldwin, Inc. (NYSE:ALEX) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.225 per share by the financial services provider on Monday, April 7th. This represents a $0.90 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22.

Alexander & Baldwin has increased its dividend by an average of 10.0% annually over the last three years. Alexander & Baldwin has a payout ratio of 130.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The firm has a market capitalization of $1.31 billion, a P/E ratio of 29.01 and a beta of 1.29. The business’s 50-day simple moving average is $17.67 and its 200-day simple moving average is $18.65.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Equities analysts predict that Alexander & Baldwin will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALEX. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.