Short Interest in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Expands By 53.5%

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,252,766 shares, an increase of 53.5% from the December 15th total of 816,384 shares. Based on an average daily trading volume, of 838,256 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.7% of the company’s stock are sold short. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 838,256 shares, the days-to-cover ratio is currently 1.5 days.

Alexander & Baldwin Stock Performance

NYSE:ALEX traded up $0.02 during midday trading on Friday, reaching $20.85. The stock had a trading volume of 743,157 shares, compared to its average volume of 654,286. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.52 billion, a P/E ratio of 20.65 and a beta of 0.94. The firm has a fifty day simple moving average of $18.59 and a two-hundred day simple moving average of $18.12. Alexander & Baldwin has a 12-month low of $15.07 and a 12-month high of $21.03.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Friday, October 31st. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $50.25 million during the quarter, compared to analyst estimates of $50.69 million. Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%. On average, equities analysts expect that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were given a $0.35 dividend. The ex-dividend date was Friday, December 19th. This is an increase 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 payout ratio is 138.61%.

Hedge Funds Weigh In On Alexander & Baldwin

A number of large investors have recently modified their holdings of the business. Aberdeen Group plc increased its position in shares of Alexander & Baldwin by 4.9% in the fourth quarter. Aberdeen Group plc now owns 26,207 shares of the financial services provider’s stock valued at $541,000 after buying an additional 1,214 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Alexander & Baldwin in the 4th quarter valued at about $206,000. Exchange Traded Concepts LLC grew its stake in Alexander & Baldwin by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 106,702 shares of the financial services provider’s stock valued at $2,202,000 after acquiring an additional 1,854 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Alexander & Baldwin by 323.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 140,836 shares of the financial services provider’s stock valued at $2,562,000 after acquiring an additional 107,579 shares in the last quarter. Finally, Triumph Capital Management acquired a new position in Alexander & Baldwin during the third quarter worth about $355,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on ALEX shares. Alliance Global Partners cut shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Janney Montgomery Scott cut shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Wednesday, December 10th. Industrial Alliance Securities set a $20.85 price objective on Alexander & Baldwin in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alexander & Baldwin in a research report on Monday, December 29th. Finally, Piper Sandler downgraded Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Tuesday, December 9th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Alexander & Baldwin presently has an average rating of “Hold” and a consensus target price of $20.95.

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.