Alexander & Baldwin’s (ALEX) “Market Perform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market perform rating on shares of Alexander & Baldwin (NYSE:ALEX) in a research note released on Monday morning,Benzinga reports.

Other analysts have also recently issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Alexander & Baldwin has an average rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Stock Down 1.6 %

Shares of NYSE ALEX opened at $17.42 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. The stock’s 50-day simple moving average is $18.85 and its 200-day simple moving average is $18.71. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 28.10 and a beta of 1.29.

Alexander & Baldwin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,034 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after purchasing an additional 140,207 shares during the last quarter. Tidal Investments LLC raised its position in shares of Alexander & Baldwin by 29.0% during the third quarter. Tidal Investments LLC now owns 52,195 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 11,719 shares during the period. Geode Capital Management LLC raised its holdings in Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares during the period. Finally, Barclays PLC lifted its stake in Alexander & Baldwin by 25.4% in the third quarter. Barclays PLC now owns 251,868 shares of the financial services provider’s stock valued at $4,836,000 after acquiring an additional 51,027 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

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.