Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Receives $20.95 Average PT from Brokerages

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) has earned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.95.

A number of research analysts have issued reports on the company. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Wednesday, December 10th. Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Tuesday, December 9th. Finally, Industrial Alliance Securities set a $20.85 price target on Alexander & Baldwin in a report on Wednesday, December 10th.

Alexander & Baldwin Stock Down 0.0%

Shares of Alexander & Baldwin stock opened at $20.74 on Thursday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 20.53 and a beta of 0.94. Alexander & Baldwin has a one year low of $15.07 and a one year high of $21.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The stock’s 50-day moving average is $19.59 and its 200 day moving average is $18.32.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. The company had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.69 million. Equities research analysts anticipate that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were paid a $0.35 dividend. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Friday, December 19th. Alexander & Baldwin’s payout ratio is currently 138.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALEX. Vanguard Group Inc. grew its stake in shares of Alexander & Baldwin by 1.1% during the third quarter. Vanguard Group Inc. now owns 11,771,709 shares of the financial services provider’s stock valued at $214,127,000 after buying an additional 126,357 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Alexander & Baldwin by 33.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock worth $44,886,000 after purchasing an additional 626,289 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alexander & Baldwin by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after buying an additional 263,483 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Alexander & Baldwin by 48.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 852,522 shares of the financial services provider’s stock valued at $15,507,000 after purchasing an additional 278,740 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Alexander & Baldwin by 81.8% during the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after buying an additional 331,969 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.