State of New Jersey Common Pension Fund D Has $1.88 Million Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

State of New Jersey Common Pension Fund D cut its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,843 shares of the financial services provider’s stock after selling 53,067 shares during the period. State of New Jersey Common Pension Fund D owned 0.15% of Alexander & Baldwin worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Alexander & Baldwin by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after acquiring an additional 71,797 shares during the last quarter. Reinhart Partners LLC. boosted its stake in Alexander & Baldwin by 1.6% during the 2nd quarter. Reinhart Partners LLC. now owns 2,481,672 shares of the financial services provider’s stock worth $42,089,000 after acquiring an additional 38,948 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after acquiring an additional 122,286 shares during the last quarter. Mesirow Institutional Investment Management Inc. boosted its stake in Alexander & Baldwin by 1.7% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 516,368 shares of the financial services provider’s stock worth $8,758,000 after acquiring an additional 8,554 shares during the last quarter. Finally, Norges Bank bought a new position in Alexander & Baldwin during the 4th quarter worth approximately $9,685,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $19.47 on Monday. 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 company has a market capitalization of $1.41 billion, a P/E ratio of 31.92 and a beta of 1.26. The company’s 50 day moving average price is $19.13 and its two-hundred day moving average price is $17.41. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30.

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 issued a dividend of $0.2225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.90%.

Analyst Upgrades and Downgrades

ALEX has been the topic of several recent analyst reports. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

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.