Truist Financial Corp purchased a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX – Get Rating) in the 1st quarter, Holdings Channel reports. The fund purchased 24,120 shares of the financial services provider’s stock, valued at approximately $559,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd bought a new position in shares of Alexander & Baldwin in the fourth quarter worth about $25,000. First Trust Advisors LP raised its stake in shares of Alexander & Baldwin by 7.8% in the fourth quarter. First Trust Advisors LP now owns 14,498 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 1,045 shares during the last quarter. Hanson & Doremus Investment Management bought a new position in shares of Alexander & Baldwin in the first quarter worth about $28,000. Public Sector Pension Investment Board raised its stake in shares of Alexander & Baldwin by 0.8% during the fourth quarter. Public Sector Pension Investment Board now owns 147,730 shares of the financial services provider’s stock worth $3,707,000 after buying an additional 1,200 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of Alexander & Baldwin by 7.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 19,127 shares of the financial services provider’s stock worth $481,000 after buying an additional 1,285 shares during the last quarter. 87.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on ALEX. StockNews.com began coverage on shares of Alexander & Baldwin in a research note on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler dropped their price target on shares of Alexander & Baldwin to $22.00 in a research note on Monday, July 4th.
Alexander & Baldwin Stock Up 0.3 %
Alexander & Baldwin (NYSE:ALEX – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Alexander & Baldwin had a net margin of 9.08% and a return on equity of 3.43%. During the same quarter in the previous year, the company earned $0.21 earnings per share. Analysts expect that Alexander & Baldwin, Inc. will post -0.07 EPS for the current year.
Alexander & Baldwin Profile
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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