Geode Capital Management LLC Buys 23,441 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Geode Capital Management LLC grew its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,876,341 shares of the financial services provider’s stock after acquiring an additional 23,441 shares during the period. Geode Capital Management LLC owned about 2.58% of Alexander & Baldwin worth $36,032,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 759 shares during the period. Rothschild Investment LLC bought a new stake in shares of Alexander & Baldwin in the second quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after buying an additional 572 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after buying an additional 1,338 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALEX shares. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX opened at $17.58 on Thursday. The stock’s 50-day simple moving average is $19.01 and its two-hundred day simple moving average is $18.64. 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 $1.28 billion, a P/E ratio of 28.36 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.16%.

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.