Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Rises By 41.3%

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 623,700 shares, a growth of 41.3% from the May 31st total of 441,300 shares. Based on an average daily trading volume, of 279,900 shares, the short-interest ratio is currently 2.2 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new stake in Alexander & Baldwin during the first quarter worth approximately $32,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Alexander & Baldwin in the 1st quarter worth $41,000. Federated Hermes Inc. raised its stake in shares of Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,240 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Alexander & Baldwin by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after buying an additional 2,232 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Alexander & Baldwin during the first quarter valued at about $108,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Stock Performance

Shares of ALEX stock traded down $0.13 during trading hours on Monday, reaching $16.83. The stock had a trading volume of 321,217 shares, compared to its average volume of 309,367. The firm has a market capitalization of $1.22 billion, a PE ratio of 27.57 and a beta of 1.26. The firm has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $17.00. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.38.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $61.20 million for the quarter, compared to analyst estimates of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same quarter last year, the business earned $0.29 earnings per share. As a group, equities analysts forecast that Alexander & Baldwin will post 1.15 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be given a dividend of $0.222 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.28%. Alexander & Baldwin’s dividend payout ratio (DPR) 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.