Texas Permanent School Fund Corp Sells 8,075 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Texas Permanent School Fund Corp reduced its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,408 shares of the financial services provider’s stock after selling 8,075 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Alexander & Baldwin worth $940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alexander & Baldwin during the 4th quarter worth $9,685,000. Clearbridge Investments LLC raised its position in Alexander & Baldwin by 244.6% in the fourth quarter. Clearbridge Investments LLC now owns 500,998 shares of the financial services provider’s stock worth $9,529,000 after acquiring an additional 355,601 shares during the period. Isthmus Partners LLC raised its position in Alexander & Baldwin by 232.0% in the first quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock worth $3,380,000 after acquiring an additional 143,401 shares during the period. Private Management Group Inc. purchased a new position in Alexander & Baldwin in the first quarter valued at about $2,289,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Alexander & Baldwin during the 2nd quarter valued at approximately $1,386,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ALEX. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Alliance Global Partners assumed coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $19.48 on Friday. The firm’s 50 day moving average is $19.13 and its 200 day moving average is $17.40. The stock has a market capitalization of $1.41 billion, a P/E ratio of 31.93 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 company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be given a dividend of $0.2225 per share. The ex-dividend date is Friday, September 20th. This represents a $0.89 annualized dividend and a dividend yield of 4.57%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is currently 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.