Alexander & Baldwin, Inc. (NYSE:ALEX) Receives $21.33 Consensus PT from Analysts

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been assigned a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.33.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its holdings in shares of Alexander & Baldwin by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares in the last quarter. Van ECK Associates Corp increased its holdings in Alexander & Baldwin by 7.0% in the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after buying an additional 733 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Alexander & Baldwin by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 822 shares during the period. ProShare Advisors LLC boosted its stake in shares of Alexander & Baldwin by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of Alexander & Baldwin by 4.2% during the 4th quarter. Foundry Partners LLC now owns 25,320 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,025 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $18.66 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.53. The stock has a 50-day moving average of $17.61 and a two-hundred day moving average of $16.96. The stock has a market cap of $1.35 billion, a P/E ratio of 30.58 and a beta of 1.26. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 4.77%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is 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.