Rothschild Investment LLC Buys Shares of 2,036 Alexander & Baldwin, Inc. (NYSE:ALEX)

Rothschild Investment LLC acquired a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,036 shares of the financial services provider’s stock, valued at approximately $35,000.

A number of other hedge funds have also recently modified their holdings of ALEX. International Assets Investment Management LLC bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at $2,280,000. New York State Common Retirement Fund grew 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 valued at $601,000 after acquiring an additional 1,125 shares during the period. Van ECK Associates Corp grew 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 valued at $193,000 after acquiring an additional 1,672 shares during the period. Victory Capital Management Inc. grew its position in shares of Alexander & Baldwin by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 884,660 shares of the financial services provider’s stock valued at $16,826,000 after acquiring an additional 29,976 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at $278,000. Institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALEX. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a research report on Friday, July 26th. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Trading Down 0.3 %

Shares of Alexander & Baldwin stock opened at $19.35 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 31.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. The company has a fifty day moving average of $18.50 and a 200 day moving average of $17.19. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a $0.2225 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.60%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is currently 145.90%.

Alexander & Baldwin Company 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.