Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 59.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,875 shares of the financial services provider’s stock after selling 4,190 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Alexander & Baldwin were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in shares of Alexander & Baldwin during the 1st quarter worth approximately $32,000. Rothschild Investment LLC acquired a new position in Alexander & Baldwin during the second quarter worth $35,000. Allspring Global Investments Holdings LLC purchased a new position in Alexander & Baldwin during the first quarter valued at $41,000. EntryPoint Capital LLC acquired a new stake in shares of Alexander & Baldwin in the first quarter valued at about $108,000. Finally, LRI Investments LLC purchased a new stake in shares of Alexander & Baldwin during the first quarter worth about $129,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALEX shares. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their price target for the company from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Alexander & Baldwin Stock Performance

ALEX opened at $19.20 on Tuesday. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The firm has a market capitalization of $1.39 billion, a PE ratio of 31.48 and a beta of 1.26. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $19.29 and its 200 day moving average price is $17.51.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.2225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s payout ratio is currently 145.90%.

About Alexander & Baldwin

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.