Cerity Partners LLC Purchases 7,142 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Cerity Partners LLC grew its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 48.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,882 shares of the financial services provider’s stock after purchasing an additional 7,142 shares during the quarter. Cerity Partners LLC’s holdings in Alexander & Baldwin were worth $420,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in Alexander & Baldwin by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after buying an additional 600 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Alexander & Baldwin by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 683 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 727 shares during the period. Van ECK Associates Corp grew its stake in shares of Alexander & Baldwin by 7.0% in the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 733 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 759 shares during the period. Institutional investors own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alexander & Baldwin presently has an average rating of “Buy” and an average price target of $21.67.

Alexander & Baldwin Trading Up 0.1 %

ALEX opened at $19.44 on Monday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.36 and a beta of 1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a 50-day simple moving average of $19.07 and a 200 day simple moving average of $18.48.

Alexander & Baldwin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 143.55%.

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.