Pekin Hardy Strauss Inc. Grows Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Pekin Hardy Strauss Inc. lifted its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,180 shares of the financial services provider’s stock after buying an additional 34,325 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.39% of Alexander & Baldwin worth $5,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CenterBook Partners LP boosted its position in Alexander & Baldwin by 2.1% in the 3rd quarter. CenterBook Partners LP now owns 60,705 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 1,247 shares during the period. Regency Capital Management Inc. DE boosted its holdings in Alexander & Baldwin by 27.9% in the fourth quarter. Regency Capital Management Inc. DE now owns 322,232 shares of the financial services provider’s stock valued at $6,129,000 after purchasing an additional 70,251 shares during the period. DigitalBridge Group Inc. grew its stake in Alexander & Baldwin by 26.9% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after purchasing an additional 225,441 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Alexander & Baldwin by 51.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 173,375 shares of the financial services provider’s stock worth $3,331,000 after purchasing an additional 58,701 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Alexander & Baldwin by 74.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,165 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 11,132 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Alexander & Baldwin presently has an average rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Price Performance

Shares of ALEX remained flat at $16.47 during mid-day trading on Tuesday. The stock had a trading volume of 255,430 shares, compared to its average volume of 313,838. The company has a current ratio of 0.38, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $19.99. The firm has a market capitalization of $1.20 billion, a PE ratio of 26.80 and a beta of 1.21. The firm’s 50-day moving average price is $16.34 and its 200 day moving average price is $16.98.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The firm had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. During the same period in the prior year, the company posted $0.29 earnings per share. As a group, sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.11 EPS for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be given a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.39%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.