Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Update

Alexander & Baldwin, Inc. (NYSE:ALEX) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 510,300 shares, a decline of 9.1% from the October 15th total of 561,300 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 317,200 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Alexander & Baldwin by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Alexander & Baldwin during the 2nd quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new stake in Alexander & Baldwin during the first quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALEX. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price on the stock. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Stock Up 0.3 %

NYSE ALEX traded up $0.06 on Tuesday, hitting $19.28. 29,660 shares of the stock were exchanged, compared to its average volume of 320,516. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a 50-day moving average price of $19.09 and a 200-day moving average price of $18.19. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.40 billion, a PE ratio of 31.00 and a beta of 1.26.

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.