Alexander & Baldwin (NYSE:ALEX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a research note published on Thursday.

Several other equities analysts have also recently issued reports on ALEX. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Trading Up 0.2 %

Shares of ALEX stock opened at $18.02 on Thursday. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30. 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 business’s 50 day moving average is $18.08 and its two-hundred day moving average is $18.78. The company has a market capitalization of $1.31 billion, a P/E ratio of 29.06 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

Institutional Investors Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 759 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 in the last quarter. Versant Capital Management Inc grew its position in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alexander & Baldwin by 34.8% in the third 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. Finally, Point72 Asia Singapore Pte. Ltd. lifted 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 period. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.