Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Up 9.3% in December

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 534,600 shares, an increase of 9.3% from the December 15th total of 489,100 shares. Based on an average trading volume of 331,200 shares, the short-interest ratio is currently 1.6 days. Currently, 0.8% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALEX shares. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after acquiring an additional 363,223 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of Alexander & Baldwin by 2.9% in the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after buying an additional 72,240 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alexander & Baldwin by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after buying an additional 190,357 shares in the last quarter. Geode Capital Management LLC raised its stake in Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 23,441 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Alexander & Baldwin by 3.1% in the third 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. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX traded down $0.18 during trading hours on Monday, reaching $17.54. 236,906 shares of the stock traded hands, compared to its average volume of 391,280. The company has a market capitalization of $1.27 billion, a P/E ratio of 28.28 and a beta of 1.29. The company’s 50-day simple moving average is $18.52 and its two-hundred day simple moving average is $18.75. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30.

Alexander & Baldwin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is 145.16%.

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.