Alexander & Baldwin, Inc. (NYSE:ALEX) Receives $21.33 Average Target Price from Analysts

Alexander & Baldwin, Inc. (NYSE:ALEX) has received a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.33.

Several analysts have recently commented on ALEX shares. 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 target price for the company. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $22.00 in a research report on Friday, July 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division purchased a new stake in shares of Alexander & Baldwin in the 1st quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Alexander & Baldwin in the second quarter valued at about $35,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alexander & Baldwin in the first quarter valued at about $41,000. Federated Hermes Inc. grew its position in shares of Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Alexander & Baldwin by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 2,232 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Down 0.3 %

Shares of ALEX stock opened at $19.40 on Monday. The company has a market capitalization of $1.41 billion, a P/E ratio of 31.80 and a beta of 1.26. 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 business’s 50 day moving average is $18.50 and its two-hundred day moving average is $17.19. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.2225 per share. The ex-dividend date is Friday, September 20th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.59%. Alexander & Baldwin’s dividend payout ratio is 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.