Aberdeen Group plc Buys Shares of 24,993 Alexander & Baldwin Holdings, Inc. $ALEX

Aberdeen Group plc purchased a new position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,993 shares of the financial services provider’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Alexander & Baldwin by 38.8% during the 1st quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider’s stock worth $426,000 after buying an additional 6,906 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alexander & Baldwin by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,288 shares of the financial services provider’s stock valued at $746,000 after acquiring an additional 1,900 shares during the period. Millennium Management LLC raised its stake in shares of Alexander & Baldwin by 81.8% during the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after acquiring an additional 331,969 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Alexander & Baldwin during the first quarter worth $41,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alexander & Baldwin by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,469 shares of the financial services provider’s stock worth $9,037,000 after purchasing an additional 24,904 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

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

Alexander & Baldwin Stock Up 0.1%

Shares of NYSE ALEX opened at $20.80 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of 20.59 and a beta of 0.92. Alexander & Baldwin Holdings, Inc. has a 12-month low of $15.07 and a 12-month high of $21.03. The company’s fifty day simple moving average is $20.75 and its 200 day simple moving average is $18.61. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47.

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 paid a $0.35 dividend. The ex-dividend date was Friday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is 138.61%.

Alexander & Baldwin 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.