Hsbc Holdings PLC Buys 3,826 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Hsbc Holdings PLC boosted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,852 shares of the financial services provider’s stock after acquiring an additional 3,826 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Alexander & Baldwin worth $1,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alexander & Baldwin in the fourth quarter valued at about $9,685,000. Isthmus Partners LLC boosted its position in Alexander & Baldwin by 232.0% during the 1st quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock worth $3,380,000 after acquiring an additional 143,401 shares during the last quarter. Private Management Group Inc. acquired a new position in Alexander & Baldwin during the 1st quarter worth approximately $2,289,000. Clearbridge Investments LLC raised its holdings in shares of Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Alexander & Baldwin in the second quarter valued at approximately $1,386,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Alliance Global Partners assumed coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $19.20 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of 31.48 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 firm’s fifty day moving average price is $19.29 and its two-hundred day moving average price is $17.50. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year 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 paid a $0.2225 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) 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.