Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Given Average Recommendation of “Hold” by Brokerages

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.95.

Several equities analysts recently commented on ALEX shares. Industrial Alliance Securities set a $20.85 target price on Alexander & Baldwin in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alexander & Baldwin in a research note on Monday, December 29th. Piper Sandler lowered shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Tuesday, December 9th. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Wednesday, December 10th. Finally, Alliance Global Partners lowered Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $20.71 on Thursday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 20.50 and a beta of 0.94. Alexander & Baldwin has a 12-month low of $15.07 and a 12-month high of $21.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50-day moving average is $19.39 and its two-hundred day moving average is $18.28.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. The firm had revenue of $50.25 million during the quarter, compared to analyst estimates of $50.69 million. Equities analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s payout ratio is 138.61%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALEX. Vanguard Group Inc. grew its stake in shares of Alexander & Baldwin by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,771,709 shares of the financial services provider’s stock valued at $214,127,000 after buying an additional 126,357 shares in the last quarter. Franklin Resources Inc. increased its stake in Alexander & Baldwin by 33.1% during the 2nd quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock worth $44,886,000 after buying an additional 626,289 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alexander & Baldwin by 21.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after buying an additional 263,483 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Alexander & Baldwin by 48.6% in the third quarter. Qube Research & Technologies Ltd now owns 852,522 shares of the financial services provider’s stock worth $15,507,000 after acquiring an additional 278,740 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Alexander & Baldwin by 81.8% during the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock worth $12,715,000 after purchasing an additional 331,969 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.