Brokerages Set Alexander & Baldwin, Inc. (NYSE:ALEX) Target Price at $21.67

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have received a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.67.

Several analysts have recently weighed in on ALEX shares. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Piper Sandler reiterated 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.

Alexander & Baldwin Stock Up 1.1 %

Alexander & Baldwin stock opened at $19.66 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The firm has a 50 day moving average price of $19.07 and a two-hundred day moving average price of $18.31. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 31.65 and a beta of 1.26.

Institutional Trading of Alexander & Baldwin

Several hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in Alexander & Baldwin by 42.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 4,366 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Alexander & Baldwin by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 1,001 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Alexander & Baldwin by 56.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,437 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 11,730 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alexander & Baldwin by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after acquiring an additional 71,797 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after acquiring an additional 122,286 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Alexander & Baldwin

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.