AQR Capital Management LLC Invests $219,000 in Alexander & Baldwin, Inc. (NYSE:ALEX)

AQR Capital Management LLC acquired a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,901 shares of the financial services provider’s stock, valued at approximately $219,000.

Other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of Alexander & Baldwin in the first quarter worth about $32,000. Rothschild Investment LLC acquired a new position in Alexander & Baldwin during the second quarter worth approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in Alexander & Baldwin in the 1st quarter valued at $41,000. EntryPoint Capital LLC bought a new position in shares of Alexander & Baldwin in the first quarter valued at about $108,000. Finally, LRI Investments LLC acquired a new stake in Alexander & Baldwin during the first quarter worth approximately $129,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $22.00 in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and an average price target of $21.33.

Alexander & Baldwin Stock Performance

ALEX opened at $18.57 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The firm has a market cap of $1.35 billion, a P/E ratio of 30.44 and a beta of 1.26. The business’s fifty day moving average is $19.19 and its 200-day moving average is $17.74.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were paid a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 4.79%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is 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.