Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Up 9.3% in January

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 534,600 shares, a growth of 9.3% from the December 31st total of 489,100 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 331,200 shares, the short-interest ratio is presently 1.6 days.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.85 on Friday. The business’s 50-day moving average is $18.18 and its 200-day moving average is $18.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.79 and a beta of 1.29. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 4.99%. Alexander & Baldwin’s dividend payout ratio is 145.16%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALEX shares. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Trading of Alexander & Baldwin

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Alexander & Baldwin by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 759 shares during the last quarter. Versant Capital Management Inc raised its holdings in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.