Alexander & Baldwin (NYSE:ALEX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a report released on Tuesday morning.

Other research analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and two have assigned 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 Stock Performance

Shares of ALEX opened at $17.78 on Tuesday. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The firm’s 50 day moving average is $18.21 and its 200-day moving average is $18.77. The stock has a market capitalization of $1.29 billion, a P/E ratio of 28.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is currently 145.16%.

Institutional Trading of Alexander & Baldwin

Several institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in shares of Alexander & Baldwin by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 13,787 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,277 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Alexander & Baldwin by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 648 shares during the period. Entropy Technologies LP acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth approximately $341,000. Jennison Associates LLC acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth approximately $730,000. Finally, Vert Asset Management LLC acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth approximately $428,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

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.