Daiwa Securities Group Inc. Sells 1,214 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Daiwa Securities Group Inc. trimmed its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,473 shares of the financial services provider’s stock after selling 1,214 shares during the period. Daiwa Securities Group Inc.’s holdings in Alexander & Baldwin were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALEX. Central Pacific Bank Trust Division bought a new position in Alexander & Baldwin during the first quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new stake in Alexander & Baldwin during the 2nd quarter valued at about $35,000. Allspring Global Investments Holdings LLC bought a new position in Alexander & Baldwin during the 1st quarter worth approximately $41,000. Quadrant Capital Group LLC lifted its position in Alexander & Baldwin by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,232 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Alexander & Baldwin during the first quarter valued at approximately $108,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Down 0.1 %

Shares of NYSE ALEX opened at $19.79 on Tuesday. The firm’s 50 day moving average price is $18.93 and its 200-day moving average price is $17.33. 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 company has a market cap of $1.44 billion, a PE ratio of 32.44 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a $0.2225 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.50%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a research report on Friday, July 26th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.33.

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.