Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,563 shares of the financial services provider’s stock after purchasing an additional 1,938 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Alexander & Baldwin worth $654,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in Alexander & Baldwin in the first quarter valued at $32,000. Rothschild Investment LLC bought a new stake in shares of Alexander & Baldwin during the 2nd quarter worth about $35,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alexander & Baldwin in the first quarter valued at $41,000. EntryPoint Capital LLC bought a new position in Alexander & Baldwin during the first quarter valued at about $108,000. Finally, LRI Investments LLC acquired a new position in shares of Alexander & Baldwin in the 1st quarter valued at $129,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Down 0.7 %

Shares of NYSE ALEX opened at $18.53 on Tuesday. The stock has a market cap of $1.35 billion, a PE ratio of 30.38 and a beta of 1.26. The business has a fifty day moving average of $19.21 and a two-hundred day moving average of $17.69. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were issued a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.80%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 20th. Alexander & Baldwin’s payout ratio is currently 145.90%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective 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 stock from $17.00 to $22.00 in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

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.