35,632 Shares in Alexander & Baldwin, Inc. (NYSE:ALEX) Bought by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,632 shares of the financial services provider’s stock, valued at approximately $678,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its holdings in shares of Alexander & Baldwin by 4.1% during the third quarter. Daiwa Securities Group Inc. now owns 23,241 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 909 shares during the period. Foundry Partners LLC raised its stake in Alexander & Baldwin by 4.2% during the fourth quarter. Foundry Partners LLC now owns 25,320 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,025 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Alexander & Baldwin by 46.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,114 shares during the period. New York State Common Retirement Fund lifted its holdings in Alexander & Baldwin by 3.7% in the fourth quarter. New York State Common Retirement Fund now owns 31,594 shares of the financial services provider’s stock worth $601,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,240 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALEX shares. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Piper Sandler reduced their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a 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 stock. According to data from MarketBeat.com, Alexander & Baldwin presently has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Stock Down 0.2 %

ALEX opened at $16.45 on Friday. The stock’s 50 day moving average price is $16.28 and its 200 day moving average price is $16.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.43. The stock has a market cap of $1.19 billion, a P/E ratio of 26.97 and a beta of 1.21. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $61.20 million for the quarter, compared to analyst estimates of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same period last year, the company earned $0.29 earnings per share. As a group, research analysts predict that Alexander & Baldwin, Inc. will post 1.14 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be paid a $0.222 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio is currently 145.90%.

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.