Daiwa Securities Group Inc. Decreases Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

Daiwa Securities Group Inc. lowered its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 22,134 shares of the financial services provider’s stock after selling 1,107 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alexander & Baldwin were worth $421,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new position in Alexander & Baldwin in the 4th quarter worth about $346,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Alexander & Baldwin by 7.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 85,731 shares of the financial services provider’s stock worth $1,631,000 after purchasing an additional 6,303 shares during the period. Louisiana State Employees Retirement System bought a new position in Alexander & Baldwin in the 4th quarter worth about $690,000. Cerity Partners LLC bought a new position in Alexander & Baldwin in the 4th quarter worth about $211,000. Finally, CKW Financial Group boosted its stake in Alexander & Baldwin by 588.4% in the 4th quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 13,557 shares during the period. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX opened at $16.20 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $16.35 and its 200 day moving average is $16.97. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 40.50 and a beta of 1.21. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $19.99.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be paid a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.48%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 222.50%.

Wall Street Analyst Weigh In

ALEX has been the subject of several analyst reports. TheStreet downgraded Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler dropped their price target on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Alexander & Baldwin presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin 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.