Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Decreases By 6.7%

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 489,100 shares, a drop of 6.7% from the November 30th total of 524,100 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 318,900 shares, the days-to-cover ratio is currently 1.5 days.

Alexander & Baldwin Stock Up 1.2 %

Shares of NYSE:ALEX opened at $17.61 on Tuesday. The firm has a market capitalization of $1.28 billion, a PE ratio of 28.40 and a beta of 1.27. The business has a 50 day simple moving average of $18.93 and a two-hundred day simple moving average of $18.66. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. 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 Dividend Announcement

The business also recently declared 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. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, December 20th. Alexander & Baldwin’s payout ratio is presently 145.16%.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC bought a new stake in Alexander & Baldwin during the 3rd quarter valued at $1,151,000. Victory Capital Management Inc. raised its holdings 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 acquiring an additional 29,006 shares in the last quarter. Jane Street Group LLC lifted its stake in Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after acquiring an additional 35,916 shares during the period. Wakefield Asset Management LLLP purchased a new stake in Alexander & Baldwin in the second quarter worth about $948,000. Finally, Geode Capital Management LLC grew its holdings in Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after acquiring an additional 23,441 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

ALEX has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up 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 report on Monday, November 25th.

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.