Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 8.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 78,604 shares of the financial services provider’s stock after selling 7,127 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Alexander & Baldwin were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALEX. Foundry Partners LLC boosted its position in shares of Alexander & Baldwin by 4.2% during the 4th quarter. Foundry Partners LLC now owns 25,320 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,025 shares in the last quarter. Rock Point Advisors LLC boosted its position in shares of Alexander & Baldwin by 0.5% during the 4th quarter. Rock Point Advisors LLC now owns 210,160 shares of the financial services provider’s stock worth $3,997,000 after purchasing an additional 1,080 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Alexander & Baldwin by 3.7% during the 4th quarter. New York State Common Retirement Fund now owns 31,594 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 1,125 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Alexander & Baldwin by 88.5% during the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Alexander & Baldwin by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 1,672 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price target on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Trading Up 1.8 %

NYSE:ALEX opened at $17.26 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of 28.30 and a beta of 1.26. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $19.99. The stock has a fifty day simple moving average of $16.69 and a 200-day simple moving average of $16.92.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same quarter in the previous year, the company posted $0.29 EPS. On average, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.15 earnings per share for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 14th were paid a $0.222 dividend. This represents a $0.89 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Friday, June 14th. Alexander & Baldwin’s payout ratio is 145.90%.

Alexander & Baldwin 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.