Daiwa Securities Group Inc. Sells 1,107 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Daiwa Securities Group Inc. trimmed its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,134 shares of the financial services provider’s stock after selling 1,107 shares during the period. Daiwa Securities Group Inc.’s holdings in Alexander & Baldwin were worth $421,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALEX. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alexander & Baldwin by 46.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,114 shares during the period. CenterBook Partners LP boosted its holdings in shares of Alexander & Baldwin by 2.1% during the 3rd quarter. CenterBook Partners LP now owns 60,705 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 1,247 shares during the period. Swiss National Bank boosted its holdings in shares of Alexander & Baldwin by 1.0% during the 3rd quarter. Swiss National Bank now owns 159,620 shares of the financial services provider’s stock worth $2,670,000 after buying an additional 1,600 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Alexander & Baldwin by 3.2% during the 3rd quarter. Texas Permanent School Fund Corp now owns 61,679 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 1,906 shares during the period. Finally, Vert Asset Management LLC boosted its holdings in shares of Alexander & Baldwin by 9.4% during the 3rd quarter. Vert Asset Management LLC now owns 30,539 shares of the financial services provider’s stock worth $511,000 after buying an additional 2,622 shares during the period. 91.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALEX has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a 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’s stock. According to data from MarketBeat.com, Alexander & Baldwin presently has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $16.20 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. 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 fifty day moving average price of $16.35 and a two-hundred day moving average price of $16.97. The company has a market cap of $1.18 billion, a PE ratio of 40.50 and a beta of 1.21.

Alexander & Baldwin Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be paid a $0.222 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio is 222.50%.

About Alexander & Baldwin

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.