Inspire Investing LLC Purchases Shares of 21,487 Alexander & Baldwin, Inc. (NYSE:ALEX)

Inspire Investing LLC acquired a new position in Alexander & Baldwin, Inc. (NYSE:ALEX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,487 shares of the financial services provider’s stock, valued at approximately $413,000.

Several other large investors have also modified their holdings of ALEX. Reinhart Partners LLC. lifted its position in Alexander & Baldwin by 2.9% during the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after acquiring an additional 72,240 shares during the last quarter. GAMMA Investing LLC grew its position in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 759 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Alexander & Baldwin by 283.3% during the third quarter. SG Americas Securities LLC now owns 24,003 shares of the financial services provider’s stock valued at $461,000 after buying an additional 17,741 shares during the last quarter. Point72 Asset Management L.P. grew its position in Alexander & Baldwin by 274.3% during the second quarter. Point72 Asset Management L.P. now owns 6,737 shares of the financial services provider’s stock worth $114,000 after buying an additional 4,937 shares in the last quarter. Finally, Quarry LP increased its stake in Alexander & Baldwin by 577.4% during the second quarter. Quarry LP now owns 5,047 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 4,302 shares during the period. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Stock Up 0.1 %

NYSE ALEX opened at $18.81 on Thursday. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 30.84 and a beta of 1.26. The stock’s 50 day moving average is $19.20 and its two-hundred day moving average is $17.73. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were paid a $0.2225 dividend. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.73%. Alexander & Baldwin’s payout ratio is currently 145.90%.

Analysts Set New Price Targets

A number of analysts have commented on ALEX shares. Alliance Global Partners started coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. Piper Sandler raised Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $22.00 in a research report 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.