Alexander & Baldwin (NYSE:ALEX) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler upped their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $18.06 on Friday. The company has a 50 day moving average price of $17.68 and a 200-day moving average price of $18.65. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The stock has a market capitalization of $1.31 billion, a PE ratio of 29.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Equities analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is 145.16%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after acquiring an additional 35,916 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Alexander & Baldwin during the 3rd quarter worth approximately $1,151,000. Victory Capital Management Inc. raised its stake in shares of Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after acquiring an additional 29,006 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after acquiring an additional 23,441 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after acquiring an additional 111,392 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.