International Assets Investment Management LLC Acquires Shares of 11,983 Alexander & Baldwin, Inc. (NYSE:ALEX)

International Assets Investment Management LLC purchased a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,983 shares of the financial services provider’s stock, valued at approximately $2,280,000.

Several other institutional investors also recently modified their holdings of ALEX. American Century Companies Inc. grew its position in shares of Alexander & Baldwin by 126.5% during the 1st quarter. American Century Companies Inc. now owns 37,890 shares of the financial services provider’s stock worth $879,000 after buying an additional 21,161 shares during the period. Citigroup Inc. grew its position in shares of Alexander & Baldwin by 25.8% during the 1st quarter. Citigroup Inc. now owns 115,180 shares of the financial services provider’s stock worth $2,671,000 after buying an additional 23,639 shares during the period. MetLife Investment Management LLC grew its position in shares of Alexander & Baldwin by 38.2% during the 1st quarter. MetLife Investment Management LLC now owns 37,273 shares of the financial services provider’s stock worth $864,000 after buying an additional 10,311 shares during the period. Rhumbline Advisers grew its position in shares of Alexander & Baldwin by 0.5% during the 1st quarter. Rhumbline Advisers now owns 222,242 shares of the financial services provider’s stock worth $5,154,000 after buying an additional 1,058 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Alexander & Baldwin by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,528 shares of the financial services provider’s stock worth $1,450,000 after buying an additional 7,710 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several analyst reports. Piper Sandler lowered their price target 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. TheStreet lowered shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three investment 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 company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Stock Up 2.1 %

Alexander & Baldwin stock opened at $16.09 on Friday. The company’s 50 day simple moving average is $16.50 and its 200 day simple moving average is $16.97. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $19.99. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 40.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.2225 per share. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.89 annualized dividend and a yield of 5.53%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 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.