New York State Teachers Retirement System Sells 11,156 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

New York State Teachers Retirement System cut its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 140,690 shares of the financial services provider’s stock after selling 11,156 shares during the period. New York State Teachers Retirement System’s holdings in Alexander & Baldwin were worth $2,676,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Alexander & Baldwin during the 4th quarter valued at about $2,280,000. Asset Management One Co. Ltd. raised its holdings in shares of Alexander & Baldwin by 51.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 173,375 shares of the financial services provider’s stock worth $3,331,000 after purchasing an additional 58,701 shares during the period. Regency Capital Management Inc. DE raised its holdings in shares of Alexander & Baldwin by 27.9% in the 4th quarter. Regency Capital Management Inc. DE now owns 322,232 shares of the financial services provider’s stock worth $6,129,000 after purchasing an additional 70,251 shares during the period. Everett Harris & Co. CA bought a new stake in shares of Alexander & Baldwin in the 4th quarter worth approximately $195,000. Finally, Reinhart Partners LLC. raised its holdings in Alexander & Baldwin by 8.7% during the 4th quarter. Reinhart Partners LLC. now owns 2,464,255 shares of the financial services provider’s stock valued at $46,870,000 after acquiring an additional 196,303 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALEX. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Piper Sandler cut their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX opened at $15.96 on Tuesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 39.90 and a beta of 1.21. The company has a 50-day moving average price of $16.58 and a 200-day moving average price of $17.00. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. Alexander & Baldwin, Inc. has a 12 month low of $15.56 and a 12 month high of $19.99.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 5.58%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio is 222.50%.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.