Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 244.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 500,998 shares of the financial services provider’s stock after buying an additional 355,601 shares during the quarter. Clearbridge Investments LLC’s holdings in Alexander & Baldwin were worth $9,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Alexander & Baldwin in the fourth quarter valued at about $9,685,000. DigitalBridge Group Inc. lifted its position in 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 in the last quarter. Reinhart Partners LLC. boosted its holdings in Alexander & Baldwin by 8.7% in the 4th quarter. Reinhart Partners LLC. now owns 2,464,255 shares of the financial services provider’s stock worth $46,870,000 after acquiring an additional 196,303 shares during the period. Barclays PLC grew its position in Alexander & Baldwin by 92.0% in the third quarter. Barclays PLC now owns 272,087 shares of the financial services provider’s stock valued at $4,553,000 after acquiring an additional 130,351 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. grew its holdings in Alexander & Baldwin by 106.9% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 247,855 shares of the financial services provider’s stock valued at $4,147,000 after purchasing an additional 128,040 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

ALEX has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Piper Sandler dropped their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Trading Up 0.2 %

Shares of Alexander & Baldwin stock traded up $0.03 during trading on Friday, hitting $16.51. The stock had a trading volume of 580,123 shares, compared to its average volume of 233,571. The stock has a 50 day simple moving average of $16.34 and a 200 day simple moving average of $17.04. The company has a market capitalization of $1.20 billion, a PE ratio of 27.07 and a beta of 1.21. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The business had revenue of $61.20 million for the quarter, compared to analyst estimates of $51.55 million. During the same quarter in the prior year, the firm posted $0.29 EPS. On average, research analysts expect that Alexander & Baldwin, Inc. will post 1.15 EPS for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be paid a $0.222 dividend. This represents a $0.89 annualized dividend and a yield of 5.38%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio is 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.