Knights of Columbus Asset Advisors LLC Acquires Shares of 37,249 Alexander & Baldwin Holdings, Inc. $ALEX

Knights of Columbus Asset Advisors LLC bought a new stake in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,249 shares of the financial services provider’s stock, valued at approximately $678,000. Knights of Columbus Asset Advisors LLC owned about 0.05% of Alexander & Baldwin as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of ALEX. Resona Asset Management Co. Ltd. lifted its holdings in shares of Alexander & Baldwin by 10.2% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 32,171 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 2,988 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Alexander & Baldwin by 53.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 64,151 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 22,209 shares during the period. Covestor Ltd lifted its position in shares of Alexander & Baldwin by 44.2% during the third quarter. Covestor Ltd now owns 3,068 shares of the financial services provider’s stock valued at $56,000 after buying an additional 941 shares during the last quarter. Bailard Inc. acquired a new stake in shares of Alexander & Baldwin in the 3rd quarter worth $397,000. Finally, Pacific Heights Asset Management LLC increased its stake in Alexander & Baldwin by 60.0% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 200,000 shares of the financial services provider’s stock valued at $3,638,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the subject of a number of research reports. Industrial Alliance Securities set a $20.85 target price on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Janney Montgomery Scott downgraded shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Wednesday, December 10th. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday, December 9th. Weiss Ratings raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Alexander & Baldwin presently has a consensus rating of “Hold” and a consensus target price of $20.95.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $20.74 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.32. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.53 and a beta of 0.94. Alexander & Baldwin Holdings, Inc. has a 52-week low of $15.07 and a 52-week high of $21.03.

Alexander & Baldwin (NYSE:ALEX) last announced 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 company had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. Research analysts predict that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

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