Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $20.95.

Several research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alexander & Baldwin in a report on Monday, December 29th. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Tuesday, December 9th. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Janney Montgomery Scott cut shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Wednesday, December 10th. Finally, Industrial Alliance Securities set a $20.85 price objective on shares of Alexander & Baldwin in a research report on Wednesday, December 10th.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in shares of Alexander & Baldwin during the fourth quarter worth approximately $349,000. Vert Asset Management LLC grew its position in Alexander & Baldwin by 3.8% during the 4th quarter. Vert Asset Management LLC now owns 34,138 shares of the financial services provider’s stock worth $705,000 after purchasing an additional 1,258 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alexander & Baldwin by 4.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,414 shares of the financial services provider’s stock valued at $999,000 after purchasing an additional 2,192 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alexander & Baldwin by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,125 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 532 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Alexander & Baldwin by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 76,817 shares of the financial services provider’s stock valued at $1,583,000 after purchasing an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Down 0.1%

Shares of NYSE ALEX opened at $20.71 on Thursday. Alexander & Baldwin has a 12-month low of $15.07 and a 12-month high of $21.03. The stock has a market cap of $1.51 billion, a PE ratio of 20.50 and a beta of 0.94. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $19.39 and a 200 day moving average of $18.28.

Alexander & Baldwin (NYSE:ALEX) last released its 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 during the quarter, compared to analysts’ expectations of $50.69 million. Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%. As a group, sell-side analysts predict that Alexander & Baldwin will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, December 19th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 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.