Foundry Partners LLC Acquires 1,025 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Foundry Partners LLC raised its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,320 shares of the financial services provider’s stock after purchasing an additional 1,025 shares during the quarter. Foundry Partners LLC’s holdings in Alexander & Baldwin were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALEX. SG Americas Securities LLC raised its holdings in shares of Alexander & Baldwin by 188.4% in the third quarter. SG Americas Securities LLC now owns 43,980 shares of the financial services provider’s stock valued at $736,000 after acquiring an additional 28,731 shares in the last quarter. Vert Asset Management LLC raised its holdings in shares of Alexander & Baldwin by 9.4% in the third quarter. Vert Asset Management LLC now owns 30,539 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 2,622 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of Alexander & Baldwin by 2.8% in the third quarter. Reinhart Partners LLC. now owns 2,267,952 shares of the financial services provider’s stock valued at $37,943,000 after acquiring an additional 61,852 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alexander & Baldwin by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,668 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 3,507 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Alexander & Baldwin by 46.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,114 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Trading Up 0.2 %

Shares of ALEX stock opened at $16.13 on Tuesday. The stock has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $16.98. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $19.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 40.33 and a beta of 1.21.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.2225 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 222.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALEX. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler dropped their target price on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.50.

About Alexander & Baldwin

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.