Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,731 shares of the financial services provider’s stock after buying an additional 6,303 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.12% of Alexander & Baldwin worth $1,631,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Alexander & Baldwin by 46.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,114 shares during the period. Everett Harris & Co. CA purchased a new stake in Alexander & Baldwin during the 4th quarter worth about $195,000. Cerity Partners LLC purchased a new stake in shares of Alexander & Baldwin during the fourth quarter worth approximately $211,000. International Assets Investment Management LLC acquired a new stake in shares of Alexander & Baldwin during the 4th quarter worth about $2,280,000. Finally, CKW Financial Group lifted its stake in Alexander & Baldwin by 588.4% during the fourth quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 13,557 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Down 1.9 %

Shares of NYSE:ALEX opened at $16.00 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $1.16 billion, a P/E ratio of 39.99 and a beta of 1.21. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $19.99. The firm has a fifty day moving average price of $16.41 and a 200 day moving average price of $16.97.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.2225 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is 222.50%.

Analysts Set New Price Targets

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

Alexander & Baldwin Company 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.