Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have received an average recommendation of “Moderate Buy” from the four analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.33.

Several brokerages have issued reports on ALEX. Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price for the company. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $17.00 to $22.00 in a research note on Friday, July 26th.

Alexander & Baldwin Price Performance

ALEX opened at $19.07 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.38 billion, a P/E ratio of 31.23 and a beta of 1.26. The stock has a 50-day moving average price of $19.30 and a 200-day moving average price of $17.53. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be given a $0.2225 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.67%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 145.90%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Alexander & Baldwin in the 4th quarter worth $9,685,000. Nomura Asset Management Co. Ltd. increased its holdings in Alexander & Baldwin by 5.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 82,400 shares of the financial services provider’s stock valued at $1,567,000 after purchasing an additional 4,300 shares during the period. Allianz Asset Management GmbH increased its holdings in Alexander & Baldwin by 49.3% during the 4th quarter. Allianz Asset Management GmbH now owns 117,746 shares of the financial services provider’s stock valued at $2,240,000 after purchasing an additional 38,886 shares during the period. Isthmus Partners LLC bought a new position in Alexander & Baldwin during the 4th quarter valued at approximately $1,176,000. Finally, Quadrature Capital Ltd purchased a new stake in Alexander & Baldwin in the 4th quarter worth approximately $379,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

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.