Cerity Partners LLC Invests $211,000 in Alexander & Baldwin, Inc. (NYSE:ALEX)

Cerity Partners LLC acquired a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,088 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALEX. Reinhart Partners LLC. boosted its position in shares of 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alexander & Baldwin by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,400,952 shares of the financial services provider’s stock worth $23,438,000 after acquiring an additional 33,354 shares during the last quarter. DigitalBridge Group Inc. grew its position in Alexander & Baldwin by 26.9% in the third quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after acquiring an additional 225,441 shares in the last quarter. Victory Capital Management Inc. increased its stake in Alexander & Baldwin by 6.5% in the third quarter. Victory Capital Management Inc. now owns 854,684 shares of the financial services provider’s stock valued at $14,299,000 after acquiring an additional 52,022 shares during the last quarter. Finally, London Co. of Virginia raised its position in Alexander & Baldwin by 0.4% during the third quarter. London Co. of Virginia now owns 767,611 shares of the financial services provider’s stock valued at $12,842,000 after purchasing an additional 3,094 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

ALEX has been the subject of a number of research reports. Piper Sandler cut their price objective 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 Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin presently has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Stock Up 1.7 %

Shares of NYSE:ALEX opened at $16.46 on Tuesday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 26.98 and a beta of 1.21. The stock’s 50-day moving average price is $16.34 and its 200-day moving average price is $16.98. The company has a current ratio of 0.38, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.11 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be issued a dividend of $0.222 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.39%. Alexander & Baldwin’s dividend payout ratio is currently 145.90%.

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.