Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been given an average rating of “Moderate Buy” by the four brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.33.

ALEX has been the subject of several research reports. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target for the company.

Institutional Trading of Alexander & Baldwin

A number of large investors have recently made changes to their positions in ALEX. Central Pacific Bank Trust Division bought a new stake in shares of Alexander & Baldwin in the first quarter worth approximately $32,000. Rothschild Investment LLC bought a new stake in shares of Alexander & Baldwin in the second quarter worth approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Alexander & Baldwin in the first quarter worth approximately $41,000. Quarry LP grew its stake in shares of Alexander & Baldwin by 577.4% in the second quarter. Quarry LP now owns 5,047 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 4,302 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Alexander & Baldwin in the first quarter worth approximately $108,000. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Trading Down 0.7 %

NYSE:ALEX opened at $18.68 on Friday. The company has a 50-day moving average price of $19.33 and a 200-day moving average price of $17.57. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 30.62 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.2225 per share. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.90%.

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.