Alexander & Baldwin (NYSE:ALEX) Posts Earnings Results, Misses Expectations By $0.21 EPS

Alexander & Baldwin (NYSE:ALEX) released its earnings results on Friday. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.21), FiscalAI reports. The firm had revenue of $50.99 million during the quarter, compared to the consensus estimate of $49.99 million. Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%.

Alexander & Baldwin Price Performance

NYSE:ALEX traded down $0.01 during mid-day trading on Friday, hitting $20.80. The company’s stock had a trading volume of 1,140,692 shares, compared to its average volume of 706,779. Alexander & Baldwin has a fifty-two week low of $15.07 and a fifty-two week high of $21.03. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.59 and a beta of 0.92. The stock has a fifty day moving average of $20.74 and a 200-day moving average of $18.70. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, December 19th. Alexander & Baldwin’s payout ratio is presently 138.61%.

Analyst Ratings Changes

A number of research firms recently weighed in on ALEX. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Wednesday, December 10th. Piper Sandler cut Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Tuesday, December 9th. 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. iA Financial set a $20.85 price target on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Finally, Alliance Global Partners cut Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.95.

Institutional Trading of Alexander & Baldwin

Several institutional investors have recently added to or reduced their stakes in ALEX. Triumph Capital Management boosted its holdings in Alexander & Baldwin by 2.8% during the 4th quarter. Triumph Capital Management now owns 20,066 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 542 shares during the period. Polymer Capital Management US LLC increased its holdings in Alexander & Baldwin by 4.2% in the 3rd quarter. Polymer Capital Management US LLC now owns 17,293 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 703 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Alexander & Baldwin by 3.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,029 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 784 shares in the last quarter. Metis Global Partners LLC increased its stake in Alexander & Baldwin by 5.0% in the 4th quarter. Metis Global Partners LLC now owns 17,214 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 816 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Alexander & Baldwin by 3.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 25,974 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 884 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors.

About Alexander & Baldwin

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.