Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Purchased by Algert Global LLC

Algert Global LLC grew its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 10.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 80,130 shares of the financial services provider’s stock after acquiring an additional 7,300 shares during the quarter. Algert Global LLC owned about 0.11% of Alexander & Baldwin worth $1,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALEX. Norges Bank acquired a new position in Alexander & Baldwin during the fourth quarter worth about $9,685,000. Isthmus Partners LLC lifted its holdings in shares of Alexander & Baldwin by 232.0% during the 1st quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock valued at $3,380,000 after buying an additional 143,401 shares during the last quarter. Private Management Group Inc. acquired a new stake in shares of Alexander & Baldwin during the 1st quarter valued at about $2,289,000. Clearbridge Investments LLC grew its stake in shares of Alexander & Baldwin by 24.4% in the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after buying an additional 122,286 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of Alexander & Baldwin during the 2nd quarter valued at $1,386,000. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alexander & Baldwin Price Performance

Shares of ALEX stock opened at $18.68 on Friday. The stock has a market capitalization of $1.36 billion, a PE ratio of 30.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. The stock’s fifty day moving average is $19.33 and its 200-day moving average is $17.57. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be given a $0.2225 dividend. The ex-dividend date is Friday, September 20th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 4.76%. Alexander & Baldwin’s payout ratio is currently 145.90%.

Alexander & Baldwin 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.