Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Sees Significant Drop in Short Interest

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,275,759 shares, a drop of 21.4% from the January 15th total of 1,622,699 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 604,821 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 604,821 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors and hedge funds have recently modified their holdings of the stock. Evelyn Partners Asset Management Ltd purchased a new position in shares of Alexander & Baldwin in the second quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alexander & Baldwin by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,125 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 532 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Alexander & Baldwin in the 1st quarter valued at $41,000. Elevation Point Wealth Partners LLC purchased a new stake in Alexander & Baldwin in the 2nd quarter worth $46,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Alexander & Baldwin during the 3rd quarter valued at about $49,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock traded up $0.01 during trading hours on Friday, hitting $20.77. The company’s stock had a trading volume of 538,073 shares, compared to its average volume of 646,278. The company has a market cap of $1.51 billion, a PE ratio of 20.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38. The business has a 50 day moving average price of $20.65 and a two-hundred day moving average price of $18.51. Alexander & Baldwin has a 12-month low of $15.07 and a 12-month high of $21.03.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, December 19th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio is currently 138.61%.

Analyst Ratings Changes

ALEX has been the topic of several analyst reports. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Piper Sandler downgraded Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Tuesday, December 9th. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Wednesday, December 10th. iA Financial set a $20.85 price objective on Alexander & Baldwin in a research note on Wednesday, December 10th. Finally, Weiss Ratings upgraded shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.95.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.