Exchange Traded Concepts LLC Has $1.91 Million Position in Alexander & Baldwin Holdings, Inc. $ALEX

Exchange Traded Concepts LLC increased its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 130.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,848 shares of the financial services provider’s stock after buying an additional 59,371 shares during the quarter. Exchange Traded Concepts LLC owned 0.14% of Alexander & Baldwin worth $1,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALEX. Evelyn Partners Asset Management Ltd bought a new stake in shares of Alexander & Baldwin in the 2nd quarter worth approximately $25,000. Jones Financial Companies Lllp bought a new position in Alexander & Baldwin in the first quarter worth $41,000. Parallel Advisors LLC boosted its stake in Alexander & Baldwin by 76.7% during the second quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,069 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Alexander & Baldwin in the 2nd quarter valued at $46,000. Finally, GAMMA Investing LLC raised its stake in shares of Alexander & Baldwin by 52.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider’s stock valued at $50,000 after buying an additional 942 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALEX shares. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Tuesday, December 9th. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alexander & Baldwin in a research report on Monday. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $20.67 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 20.46 and a beta of 1.00. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.07 and a 1 year high of $21.03. The firm has a 50 day moving average of $17.28 and a 200-day moving average of $17.83.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. As a group, sell-side analysts anticipate that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 6.8%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s payout ratio is currently 138.61%.

About Alexander & Baldwin

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.