Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Receives Average Rating of “Hold” from Analysts

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.95.

Several equities research analysts recently issued reports on ALEX shares. 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. Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Industrial Alliance Securities set a $20.85 price target on shares of Alexander & Baldwin in a report on Wednesday, December 10th. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Wednesday, December 10th. Finally, Alliance Global Partners lowered Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of Alexander & Baldwin by 33.1% during the second quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock valued at $44,886,000 after acquiring an additional 626,289 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alexander & Baldwin by 288.3% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,051 shares of the financial services provider’s stock worth $9,260,000 after purchasing an additional 377,948 shares during the period. Norges Bank acquired a new stake in Alexander & Baldwin in the 2nd quarter valued at approximately $6,359,000. Millennium Management LLC increased its holdings in Alexander & Baldwin by 81.8% in the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after purchasing an additional 331,969 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Alexander & Baldwin by 48.6% in the third quarter. Qube Research & Technologies Ltd now owns 852,522 shares of the financial services provider’s stock valued at $15,507,000 after purchasing an additional 278,740 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $20.74 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s fifty day moving average is $19.70 and its two-hundred day moving average is $18.34. The firm has a market capitalization of $1.51 billion, a P/E ratio of 20.53 and a beta of 0.92. Alexander & Baldwin has a fifty-two week low of $15.07 and a fifty-two week high of $21.03.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 138.61%.

Alexander & Baldwin Company Profile

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.