Geode Capital Management LLC Increases Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Geode Capital Management LLC raised its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,876,341 shares of the financial services provider’s stock after purchasing an additional 23,441 shares during the period. Geode Capital Management LLC’s holdings in Alexander & Baldwin were worth $36,032,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 valued at $29,000 after purchasing an additional 759 shares during the last quarter. Rothschild Investment LLC bought a new stake in Alexander & Baldwin in the 2nd quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Alexander & Baldwin by 19.9% during 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 acquiring an additional 572 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Alexander & Baldwin by 53.6% during the third 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 in the last quarter. Institutional investors own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $17.58 on Thursday. The company has a market capitalization of $1.28 billion, a P/E ratio of 28.36 and a beta of 1.27. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two 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 stock has a 50 day moving average price of $19.01 and a two-hundred day moving average price of $18.64.

Alexander & Baldwin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 5.06%. Alexander & Baldwin’s dividend payout ratio is currently 145.16%.

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.