Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Up 7.5% in November

Alexander & Baldwin, Inc. (NYSE:ALEX) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 548,400 shares, an increase of 7.5% from the October 31st total of 510,300 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 301,500 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALEX shares. Alliance Global Partners started 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 reissued an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $21.67.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors have recently modified their holdings of ALEX. GAMMA Investing LLC grew its stake in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after buying an additional 759 shares in the last quarter. Rothschild Investment LLC acquired a new position in Alexander & Baldwin during the 2nd quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV grew its stake in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,338 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

ALEX stock opened at $19.56 on Thursday. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $19.07 and a two-hundred day moving average of $18.43. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 31.55 and a beta of 1.27.

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.