Alexander & Baldwin, Inc. (NYSE:ALEX) Position Increased by Jane Street Group LLC

Jane Street Group LLC increased its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 61.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 94,616 shares of the financial services provider’s stock after acquiring an additional 35,916 shares during the period. Jane Street Group LLC’s holdings in Alexander & Baldwin were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new stake in shares of Alexander & Baldwin in the 3rd quarter worth about $1,151,000. Victory Capital Management Inc. increased its stake in shares of Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after purchasing an additional 29,006 shares during the period. Wakefield Asset Management LLLP acquired a new stake in shares of Alexander & Baldwin in the second quarter valued at approximately $948,000. Harbor Capital Advisors Inc. raised its holdings in shares of Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 111,392 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Alexander & Baldwin in the 3rd quarter worth approximately $561,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Alexander & Baldwin Price Performance

Shares of NYSE:ALEX opened at $17.58 on Thursday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 28.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The stock’s 50 day moving average price is $19.01 and its 200 day moving average price is $18.64.

Alexander & Baldwin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a $0.2225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 5.06%. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.16%.

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.