Cerity Partners LLC Makes New Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Cerity Partners LLC bought a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,088 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently modified their holdings of the stock. CenterBook Partners LP raised its stake in Alexander & Baldwin by 2.1% in the third quarter. CenterBook Partners LP now owns 60,705 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 1,247 shares in the last quarter. Regency Capital Management Inc. DE raised its position in shares of Alexander & Baldwin by 27.9% in the 4th quarter. Regency Capital Management Inc. DE now owns 322,232 shares of the financial services provider’s stock valued at $6,129,000 after buying an additional 70,251 shares in the last quarter. DigitalBridge Group Inc. lifted its holdings in shares of Alexander & Baldwin by 26.9% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after acquiring an additional 225,441 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Alexander & Baldwin by 51.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 173,375 shares of the financial services provider’s stock worth $3,331,000 after acquiring an additional 58,701 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Alexander & Baldwin by 74.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,165 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 11,132 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALEX shares. Piper Sandler lowered their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. TheStreet cut Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Price Performance

ALEX stock opened at $16.46 on Tuesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 26.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.43. The company has a 50 day simple moving average of $16.34 and a 200 day simple moving average of $16.98. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. The company had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. During the same period in the prior year, the business earned $0.29 earnings per share. Research analysts anticipate that Alexander & Baldwin, Inc. will post 1.11 EPS for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be given a $0.222 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 annualized dividend and a yield of 5.39%. Alexander & Baldwin’s dividend payout ratio is presently 145.90%.

Alexander & Baldwin Company Profile

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.