Alexander & Baldwin, Inc. (NYSE:ALEX) Increases Dividend to $0.20 Per Share

Alexander & Baldwin, Inc. (NYSE:ALEXGet Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Investors of record on Friday, June 17th will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, July 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, June 16th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.19.

Alexander & Baldwin has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Alexander & Baldwin to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 72.4%.

Shares of NYSE ALEX opened at $21.75 on Thursday. The stock has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $23.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.58 billion, a P/E ratio of 44.39 and a beta of 1.34. Alexander & Baldwin has a 1 year low of $17.35 and a 1 year high of $26.57.

Alexander & Baldwin (NYSE:ALEXGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Alexander & Baldwin had a net margin of 9.33% and a return on equity of 3.35%. During the same period in the prior year, the business earned $0.17 EPS. On average, research analysts predict that Alexander & Baldwin will post 0.96 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Wednesday. StockNews.com assumed coverage on Alexander & Baldwin in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in shares of Alexander & Baldwin by 36.5% in the fourth quarter. NEXT Financial Group Inc now owns 1,763 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 471 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Alexander & Baldwin in the fourth quarter worth $243,000. Oliver Luxxe Assets LLC increased its stake in shares of Alexander & Baldwin by 4.6% in the fourth quarter. Oliver Luxxe Assets LLC now owns 14,414 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 635 shares during the last quarter. LPL Financial LLC increased its stake in shares of Alexander & Baldwin by 22.3% in the third quarter. LPL Financial LLC now owns 24,460 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 4,455 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Alexander & Baldwin in the fourth quarter worth $949,000. Institutional investors own 85.65% of the company’s stock.

Alexander & Baldwin Company Profile (Get Rating)

Alexander & Baldwin, Inc ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases.

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Dividend History for Alexander & Baldwin (NYSE:ALEX)

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