DigitalBridge Group Inc. Reduces Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

DigitalBridge Group Inc. trimmed its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 37.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 547,970 shares of the financial services provider’s stock after selling 329,901 shares during the quarter. DigitalBridge Group Inc.’s holdings in Alexander & Baldwin were worth $9,294,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ALEX. AQR Capital Management LLC purchased a new stake in Alexander & Baldwin in the 2nd quarter valued at $219,000. Public Sector Pension Investment Board lifted its stake in shares of Alexander & Baldwin by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 159,717 shares of the financial services provider’s stock valued at $2,709,000 after purchasing an additional 9,192 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Alexander & Baldwin by 6.7% in the 2nd quarter. Sei Investments Co. now owns 34,792 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 2,179 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Alexander & Baldwin in the 2nd quarter valued at $258,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Alexander & Baldwin by 6.5% in the 2nd quarter. Hsbc Holdings PLC now owns 62,852 shares of the financial services provider’s stock valued at $1,062,000 after purchasing an additional 3,826 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALEX. Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 target price on the stock. Piper Sandler raised Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their price target for the company from $17.00 to $22.00 in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Alexander & Baldwin Stock Down 0.4 %

Alexander & Baldwin stock opened at $19.52 on Thursday. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The stock has a 50 day moving average of $19.23 and a two-hundred day moving average of $17.47. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 32.00 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 20th will be issued a $0.2225 dividend. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.90%.

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.