State Street Corp Grows Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

State Street Corp lifted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,228,089 shares of the financial services provider’s stock after acquiring an additional 363,223 shares during the quarter. State Street Corp owned approximately 5.82% of Alexander & Baldwin worth $82,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alexander & Baldwin by 3.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,399 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 2,795 shares in the last quarter. Summit Global Investments raised its stake in Alexander & Baldwin by 43.6% during the 2nd quarter. Summit Global Investments now owns 42,262 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 12,830 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Alexander & Baldwin by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 600 shares in the last quarter. Meixler Investment Management Ltd. boosted its stake in Alexander & Baldwin by 29.9% in the 2nd quarter. Meixler Investment Management Ltd. now owns 20,625 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 4,750 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Alexander & Baldwin by 5.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,920 shares of the financial services provider’s stock valued at $558,000 after buying an additional 1,732 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALEX. Piper Sandler restated an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

Alexander & Baldwin Price Performance

Shares of ALEX stock opened at $18.88 on Tuesday. The stock has a 50 day moving average price of $19.10 and a 200 day moving average price of $18.58. 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 0.35 and a current ratio of 0.35. The firm has a market capitalization of $1.37 billion, a P/E ratio of 30.44 and a beta of 1.27.

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $0.2225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 4.72%. Alexander & Baldwin’s dividend payout ratio is currently 143.55%.

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.