Mackenzie Financial Corp Acquires New Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Mackenzie Financial Corp acquired a new position in Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,194 shares of the financial services provider’s stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position 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 last quarter. Louisiana State Employees Retirement System bought a new stake in Alexander & Baldwin during the fourth quarter worth approximately $690,000. Cerity Partners LLC acquired a new position in shares of Alexander & Baldwin during the 4th quarter valued at $211,000. CKW Financial Group grew its holdings in Alexander & Baldwin by 588.4% during the fourth quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 13,557 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Alexander & Baldwin during the 4th quarter valued at about $2,280,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Up 2.3 %

ALEX opened at $16.19 on Friday. The company has a market capitalization of $1.18 billion, a PE ratio of 26.54 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $19.99. The business has a 50-day moving average of $16.35 and a 200-day moving average of $16.97.

Alexander & Baldwin Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be given a dividend of $0.222 per share. This represents a $0.89 annualized dividend and a yield of 5.48%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s payout ratio is presently 145.90%.

Analyst Ratings Changes

A number of research firms have commented on ALEX. TheStreet lowered shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler decreased their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.