StockNews.com Downgrades Alexander & Baldwin (NYSE:ALEX) to Hold

StockNews.com downgraded shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a research note released on Sunday morning.

A number of other research firms also recently weighed in on ALEX. Piper Sandler upped their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Trading Down 0.9 %

NYSE ALEX opened at $17.45 on Friday. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. 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 stock has a 50-day moving average of $17.74 and a 200-day moving average of $18.55. The firm has a market cap of $1.27 billion, a PE ratio of 28.14 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. As a group, sell-side analysts forecast that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.16%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is 107.14%.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently modified their holdings of ALEX. Point72 Asia Singapore Pte. Ltd. increased its stake in Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Alexander & Baldwin by 2.3% in the 4th quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 615 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Alexander & Baldwin by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 648 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Alexander & Baldwin by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 683 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Alexander & Baldwin by 3.4% in the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 797 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.