Allianz Asset Management GmbH Has $10.81 Million Position in Alexander & Baldwin Holdings, Inc. $ALEX

Allianz Asset Management GmbH lifted its holdings in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 594,325 shares of the financial services provider’s stock after acquiring an additional 87,670 shares during the period. Allianz Asset Management GmbH owned approximately 0.82% of Alexander & Baldwin worth $10,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Evelyn Partners Asset Management Ltd purchased a new position in Alexander & Baldwin during the second quarter worth about $25,000. Jones Financial Companies Lllp bought a new position in shares of Alexander & Baldwin during the 1st quarter worth approximately $41,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Alexander & Baldwin in the 2nd quarter worth approximately $46,000. GAMMA Investing LLC boosted 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 worth $50,000 after buying an additional 942 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Alexander & Baldwin by 44.2% in the third quarter. Covestor Ltd now owns 3,068 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 941 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Tuesday, December 9th. Weiss Ratings upgraded shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. iA Financial set a $20.85 price target on shares of Alexander & Baldwin in a report on Wednesday, December 10th. Finally, Janney Montgomery Scott lowered Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Alexander & Baldwin currently has a consensus rating of “Hold” and a consensus price target of $20.95.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $20.76 on Monday. The firm has a 50 day simple moving average of $20.11 and a 200 day simple moving average of $18.43. 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 market capitalization of $1.51 billion, a price-to-earnings ratio of 20.55 and a beta of 0.92.

Alexander & Baldwin Increases Dividend

The business also recently announced 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 was Friday, December 19th. This represents a $1.40 annualized dividend and a yield of 6.7%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio is 138.61%.

Alexander & Baldwin Company Profile

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.