Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Down 6.7% in December

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 489,100 shares, a drop of 6.7% from the November 30th total of 524,100 shares. Based on an average trading volume of 318,900 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after purchasing an additional 363,223 shares during the period. Reinhart Partners LLC. raised its position in Alexander & Baldwin by 2.9% during the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after buying an additional 72,240 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Alexander & Baldwin by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after acquiring an additional 190,357 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after acquiring an additional 23,441 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after acquiring an additional 29,006 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALEX. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th.

Alexander & Baldwin Price Performance

Shares of ALEX stock opened at $17.61 on Tuesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s 50-day simple moving average is $18.93 and its 200-day simple moving average is $18.66. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.2225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 5.05%. Alexander & Baldwin’s payout ratio is 145.16%.

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.