Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Receives Average Recommendation of “Hold” from Analysts

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) have been given an average rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.95.

A number of equities analysts have recently issued reports on ALEX shares. Janney Montgomery Scott downgraded shares of 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 raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Piper Sandler cut Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Tuesday, December 9th. Finally, iA Financial set a $20.85 price objective on Alexander & Baldwin in a research report on Wednesday, December 10th.

Alexander & Baldwin Stock Performance

ALEX stock opened at $20.80 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The business has a 50-day moving average price of $20.75 and a 200 day moving average price of $18.61. The company has a market capitalization of $1.51 billion, a P/E ratio of 20.59 and a beta of 0.92. Alexander & Baldwin has a 1-year low of $15.07 and a 1-year high of $21.03.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. 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 payout ratio is presently 138.61%.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Alexander & Baldwin in the third quarter valued at about $678,000. Pacific Heights Asset Management LLC lifted its holdings in shares of Alexander & Baldwin by 60.0% during the third quarter. Pacific Heights Asset Management LLC now owns 200,000 shares of the financial services provider’s stock worth $3,638,000 after purchasing an additional 75,000 shares during the period. Exchange Traded Concepts LLC boosted its position in Alexander & Baldwin by 130.6% in the third quarter. Exchange Traded Concepts LLC now owns 104,848 shares of the financial services provider’s stock valued at $1,907,000 after buying an additional 59,371 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Alexander & Baldwin by 68.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 415,452 shares of the financial services provider’s stock worth $7,408,000 after buying an additional 169,009 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Alexander & Baldwin by 17.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 594,325 shares of the financial services provider’s stock worth $10,811,000 after buying an additional 87,670 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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.