Alexander & Baldwin’s (ALEX) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities restated their market perform rating on shares of Alexander & Baldwin (NYSE:ALEX) in a research note issued to investors on Monday,Benzinga reports.

A number of other equities analysts also recently commented on ALEX. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Stock Down 0.4 %

Shares of ALEX opened at $17.30 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a 50-day simple moving average of $18.81 and a 200-day simple moving average of $18.71. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30. The firm has a market capitalization of $1.26 billion, a P/E ratio of 27.90 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is currently 145.16%.

Institutional Trading of Alexander & Baldwin

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in Alexander & Baldwin by 9.4% during the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of Alexander & Baldwin by 2.9% during the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after purchasing an additional 72,240 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after purchasing an additional 190,357 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after purchasing an additional 23,441 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after purchasing an additional 29,006 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.