Oppenheimer Asset Management Inc. Invests $221,000 in Alexander & Baldwin, Inc. (NYSE:ALEX)

Oppenheimer Asset Management Inc. bought a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,049 shares of the financial services provider’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in Alexander & Baldwin by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares during the last quarter. Van ECK Associates Corp lifted its stake in Alexander & Baldwin by 7.0% during the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 733 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Alexander & Baldwin by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 822 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Alexander & Baldwin by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 1,001 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Alexander & Baldwin by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 141,890 shares of the financial services provider’s stock valued at $2,337,000 after acquiring an additional 1,200 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 raised their price objective for the stock from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Alexander & Baldwin Trading Down 1.7 %

Alexander & Baldwin stock opened at $19.47 on Monday. The company has a 50 day moving average price of $19.13 and a 200 day moving average price of $17.41. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.92 and a beta of 1.26.

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 paid a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.57%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is 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.