Quadrature Capital Ltd Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Quadrature Capital Ltd bought a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,901 shares of the financial services provider’s stock, valued at approximately $379,000.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of Alexander & Baldwin by 74.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,165 shares of the financial services provider’s stock valued at $438,000 after buying an additional 11,132 shares during the last quarter. Invesco Ltd. grew its position in shares of Alexander & Baldwin by 3.1% during the 3rd quarter. Invesco Ltd. now owns 578,274 shares of the financial services provider’s stock valued at $9,675,000 after buying an additional 17,224 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Alexander & Baldwin by 15.7% during the 3rd quarter. Clearbridge Investments LLC now owns 145,397 shares of the financial services provider’s stock valued at $2,432,000 after buying an additional 19,687 shares during the last quarter. London Co. of Virginia grew its position in shares of Alexander & Baldwin by 0.4% during the 3rd quarter. London Co. of Virginia now owns 767,611 shares of the financial services provider’s stock valued at $12,842,000 after buying an additional 3,094 shares during the last quarter. Finally, Employees Retirement System of Texas grew its position in shares of Alexander & Baldwin by 35.0% during the 3rd quarter. Employees Retirement System of Texas now owns 81,000 shares of the financial services provider’s stock valued at $1,355,000 after buying an additional 21,000 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Price Performance

NYSE ALEX opened at $16.47 on Tuesday. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $19.99. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 26.99 and a beta of 1.24. The company has a 50-day moving average price of $16.51 and a two-hundred day moving average price of $17.03.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. The business had revenue of $61.20 million during the quarter, compared to analysts’ expectations of $51.55 million. During the same period last year, the firm posted $0.29 earnings per share. Analysts forecast that Alexander & Baldwin, Inc. will post 1.15 EPS for the current year.

Alexander & Baldwin Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be given a dividend of $0.222 per share. This represents a $0.89 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

Alexander & Baldwin 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.