Point72 Asia Singapore Pte. Ltd. Has $49,000 Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

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

Several other large investors also recently modified their holdings of ALEX. Allianz Asset Management GmbH grew its position in shares of Alexander & Baldwin by 49.3% during the 4th quarter. Allianz Asset Management GmbH now owns 117,746 shares of the financial services provider’s stock worth $2,240,000 after buying an additional 38,886 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Alexander & Baldwin during the 4th quarter worth approximately $379,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alexander & Baldwin during the 1st quarter worth approximately $41,000. Everett Harris & Co. CA grew its position in shares of Alexander & Baldwin by 489.7% during the 1st quarter. Everett Harris & Co. CA now owns 60,475 shares of the financial services provider’s stock worth $996,000 after buying an additional 50,220 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Alexander & Baldwin by 18.7% during the 1st quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock worth $772,000 after buying an additional 7,383 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $18.81 on Friday. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The business’s fifty day moving average is $19.32 and its 200 day moving average is $17.60. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.37 billion, a P/E ratio of 30.84 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a $0.2225 dividend. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.90%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALEX shares. 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 report on Friday, July 26th. Alliance Global Partners began coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.