Regency Capital Management Inc. DE Sells 65,883 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Regency Capital Management Inc. DE decreased its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 19.6% during the third quarter, HoldingsChannel.com reports. The firm owned 269,819 shares of the financial services provider’s stock after selling 65,883 shares during the quarter. Alexander & Baldwin makes up approximately 2.8% of Regency Capital Management Inc. DE’s holdings, making the stock its 17th largest holding. Regency Capital Management Inc. DE’s holdings in Alexander & Baldwin were worth $5,181,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Alexander & Baldwin by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after buying an additional 71,797 shares during the last quarter. Reinhart Partners LLC. raised its position in Alexander & Baldwin by 1.6% in the 2nd quarter. Reinhart Partners LLC. now owns 2,481,672 shares of the financial services provider’s stock worth $42,089,000 after buying an additional 38,948 shares during the last quarter. Clearbridge Investments LLC raised its position in Alexander & Baldwin by 24.4% in the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after buying an additional 122,286 shares during the last quarter. Mesirow Institutional Investment Management Inc. raised its position in Alexander & Baldwin by 1.7% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 516,368 shares of the financial services provider’s stock worth $8,758,000 after buying an additional 8,554 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Alexander & Baldwin during the 4th quarter valued at about $9,685,000. Institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin currently has an average rating of “Moderate Buy” and an average price target of $21.33.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX traded up $0.13 during midday trading on Friday, reaching $18.81. 270,524 shares of the stock traded hands, compared to its average volume of 332,048. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $1.37 billion, a PE ratio of 30.67 and a beta of 1.26. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30. The company’s 50 day moving average is $19.33 and its 200 day moving average is $17.57.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 20th will be given a dividend of $0.2225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s dividend 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.