Teacher Retirement System of Texas Has $726,000 Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Teacher Retirement System of Texas reduced its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,907 shares of the financial services provider’s stock after selling 1,979 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Alexander & Baldwin worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in shares of Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,239 shares during the last quarter. Versant Capital Management Inc grew its holdings in Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,034 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position 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 acquiring an additional 572 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Alexander & Baldwin in the 3rd quarter valued at $79,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Alexander & Baldwin in the 4th quarter worth $112,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock opened at $17.15 on Monday. The stock’s fifty day simple moving average is $17.73 and its 200 day simple moving average is $18.39. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.25 billion, a PE ratio of 27.67 and a beta of 1.27. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, research analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a $0.225 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.25%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler increased their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.