Alexander & Baldwin, Inc. (NYSE:ALEX) Stake Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,818 shares of the financial services provider’s stock after buying an additional 727 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alexander & Baldwin were worth $54,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Alexander & Baldwin by 0.6% during the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock valued at $193,115,000 after buying an additional 71,797 shares in the last quarter. Reinhart Partners LLC. boosted its stake in Alexander & Baldwin by 2.9% during the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock valued at $49,035,000 after buying an additional 72,240 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Alexander & Baldwin by 24.4% during the first 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. Mesirow Institutional Investment Management Inc. boosted its stake in Alexander & Baldwin by 1.7% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 516,368 shares of the financial services provider’s stock valued at $8,758,000 after buying an additional 8,554 shares in the last quarter. Finally, Regency Capital Management Inc. DE boosted its stake in Alexander & Baldwin by 17.6% during the first quarter. Regency Capital Management Inc. DE now owns 378,875 shares of the financial services provider’s stock valued at $6,240,000 after buying an additional 56,643 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX stock opened at $19.22 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.40 billion, a P/E ratio of 30.99 and a beta of 1.26. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The stock has a 50 day moving average of $19.09 and a two-hundred day moving average of $18.01.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in 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 for the company. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.67.

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.