Illinois Municipal Retirement Fund Decreases Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Illinois Municipal Retirement Fund lessened its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,317 shares of the financial services provider’s stock after selling 1,949 shares during the period. Illinois Municipal Retirement Fund’s holdings in Alexander & Baldwin were worth $786,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Duality Advisers LP bought a new stake in Alexander & Baldwin during the fourth quarter worth approximately $199,000. Foundry Partners LLC boosted its holdings in shares of Alexander & Baldwin by 4.2% in the 4th quarter. Foundry Partners LLC now owns 25,320 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,025 shares during the period. Federated Hermes Inc. increased its position in shares of Alexander & Baldwin by 88.5% during the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,240 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Alexander & Baldwin during the 4th quarter valued at $346,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Alexander & Baldwin by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 85,731 shares of the financial services provider’s stock worth $1,631,000 after buying an additional 6,303 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

ALEX opened at $16.46 on Tuesday. The business has a fifty day moving average of $16.34 and a 200 day moving average of $16.98. The stock has a market cap of $1.19 billion, a P/E ratio of 26.98 and a beta of 1.21. The company has a quick ratio of 0.43, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $61.20 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.29 earnings per share. As a group, sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.11 EPS for the current year.

Alexander & Baldwin Cuts Dividend

The business also recently disclosed 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 payout ratio is 145.90%.

Wall Street Analyst Weigh In

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

Alexander & Baldwin Company 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.