Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,731 shares of the financial services provider’s stock after purchasing an additional 6,303 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Alexander & Baldwin were worth $1,631,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ALEX. Louisiana State Employees Retirement System bought a new stake in shares of Alexander & Baldwin in the fourth quarter worth $690,000. Cerity Partners LLC acquired a new position in Alexander & Baldwin in the fourth quarter worth about $211,000. CKW Financial Group increased its holdings in Alexander & Baldwin by 588.4% in the fourth quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock valued at $302,000 after buying an additional 13,557 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Alexander & Baldwin during the fourth quarter valued at approximately $2,280,000. Finally, Asset Management One Co. Ltd. lifted its holdings in Alexander & Baldwin by 51.2% during 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 buying an additional 58,701 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $16.00 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $16.41 and a two-hundred day moving average of $16.97. The company has a market cap of $1.16 billion, a P/E ratio of 39.99 and a beta of 1.21. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $19.99.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.56%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 222.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALEX. Piper Sandler lowered their price target on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a 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 given a buy rating to the company. According to MarketBeat, Alexander & Baldwin currently has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Profile

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.