Alexander & Baldwin, Inc. (NYSE:ALEX) Sees Significant Growth in Short Interest

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 548,400 shares, an increase of 7.5% from the October 31st total of 510,300 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 301,500 shares, the days-to-cover ratio is presently 1.8 days.

Alexander & Baldwin Stock Down 0.4 %

ALEX stock opened at $19.60 on Tuesday. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 31.61 and a beta of 1.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $19.07 and a two-hundred day moving average price of $18.41.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALEX shares. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Alexander & Baldwin currently has an average rating of “Buy” and a consensus price target of $21.67.

Institutional Trading of Alexander & Baldwin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Alexander & Baldwin by 103.3% during 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. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the second quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after buying an additional 572 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,338 shares during the period. 91.29% of the stock is owned by institutional investors.

About Alexander & Baldwin

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.