Regency Capital Management Inc. DE Sells 65,883 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Regency Capital Management Inc. DE reduced its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 19.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,819 shares of the financial services provider’s stock after selling 65,883 shares during the quarter. Alexander & Baldwin comprises about 2.8% of Regency Capital Management Inc. DE’s holdings, making the stock its 17th biggest holding. Regency Capital Management Inc. DE owned 0.37% of Alexander & Baldwin worth $5,181,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ALEX. Central Pacific Bank Trust Division bought a new stake in Alexander & Baldwin during the first quarter valued at approximately $32,000. Rothschild Investment LLC bought a new stake in Alexander & Baldwin during the second quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in Alexander & Baldwin during the first quarter valued at approximately $41,000. Quarry LP lifted its position in Alexander & Baldwin by 577.4% during the second quarter. Quarry LP now owns 5,047 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 4,302 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Alexander & Baldwin during the first quarter valued at approximately $108,000. 91.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALEX has been the topic of several research reports. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $22.00 in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Alexander & Baldwin Trading Up 0.7 %

NYSE:ALEX traded up $0.13 during trading hours on Friday, hitting $18.81. The company had a trading volume of 270,524 shares, compared to its average volume of 332,048. The company has a market capitalization of $1.37 billion, a PE ratio of 30.67 and a beta of 1.26. The stock has a 50-day moving average price of $19.33 and a 200 day moving average price of $17.57. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53.

Alexander & Baldwin Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.73%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is 145.90%.

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.