AQR Capital Management LLC Buys Shares of 12,901 Alexander & Baldwin, Inc. (NYSE:ALEX)

AQR Capital Management LLC purchased a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,901 shares of the financial services provider’s stock, valued at approximately $219,000.

A number of other large investors also recently modified their holdings of ALEX. Isthmus Partners LLC grew its holdings 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 shares of Alexander & Baldwin in the first quarter worth approximately $2,289,000. Clearbridge Investments LLC boosted its holdings in 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 acquiring an additional 122,286 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Alexander & Baldwin during the second quarter worth $1,386,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Alexander & Baldwin by 271.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 110,300 shares of the financial services provider’s stock worth $1,871,000 after acquiring an additional 80,642 shares during the period. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $18.57 on Friday. 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 has a fifty day simple moving average of $19.19 and a two-hundred day simple moving average of $17.74. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The firm has a market capitalization of $1.35 billion, a PE ratio of 30.44 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Friday, September 20th were given a dividend of $0.2225 per share. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 4.79%. Alexander & Baldwin’s payout ratio is presently 145.90%.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of research analyst reports. Alliance Global Partners initiated coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $17.00 to $22.00 in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.33.

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.