Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Sees Large Decrease in Short Interest

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1,275,759 shares, a decrease of 21.4% from the January 15th total of 1,622,699 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Based on an average daily volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Approximately 1.8% of the company’s shares are short sold.

Institutional Trading of Alexander & Baldwin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp purchased a new position in Alexander & Baldwin during the 4th quarter worth $4,126,000. Squarepoint Ops LLC purchased a new stake in shares of Alexander & Baldwin during the fourth quarter worth about $2,168,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Alexander & Baldwin during the fourth quarter valued at about $1,012,000. Quinn Opportunity Partners LLC purchased a new position in shares of Alexander & Baldwin in the 4th quarter valued at approximately $4,231,000. Finally, Soros Fund Management LLC acquired a new stake in Alexander & Baldwin in the 4th quarter worth approximately $9,085,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.0%

Shares of ALEX traded up $0.01 during trading hours on Monday, hitting $20.77. The company had a trading volume of 538,073 shares, compared to its average volume of 636,023. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.51 billion, a PE ratio of 20.56 and a beta of 0.92. Alexander & Baldwin has a one year low of $15.07 and a one year high of $21.03. The company’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $18.54.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 19th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. Alexander & Baldwin’s dividend payout ratio is currently 138.61%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALEX. Alliance Global Partners lowered Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. iA Financial set a $20.85 target price on Alexander & Baldwin in a research note on Wednesday, December 10th. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday, December 9th. Janney Montgomery Scott downgraded shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Wednesday, December 10th. Finally, Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.95.

About Alexander & Baldwin

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.