Victory Capital Management Inc. Acquires 29,006 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Victory Capital Management Inc. increased its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 965,435 shares of the financial services provider’s stock after acquiring an additional 29,006 shares during the period. Victory Capital Management Inc. owned about 1.33% of Alexander & Baldwin worth $18,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC lifted its stake in shares of Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after acquiring an additional 122,286 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in Alexander & Baldwin during the 2nd quarter valued at $948,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares during the period. Reinhart Partners LLC. grew its position in shares of Alexander & Baldwin by 2.9% during the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after buying an additional 72,240 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Alexander & Baldwin by 42.9% during the first quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider’s stock valued at $240,000 after buying an additional 4,366 shares during the period. 91.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALEX has been the subject of a number of research reports. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Stock Down 0.4 %

NYSE:ALEX opened at $19.22 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $1.40 billion, a P/E ratio of 31.00 and a beta of 1.26. The company’s 50-day simple moving average is $19.09 and its 200-day simple moving average is $18.19. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

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.