Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Short Interest Down 21.4% in January

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 1,275,759 shares, a decline of 21.4% from the January 15th total of 1,622,699 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Based on an average daily volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Approximately 1.8% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research firms have weighed in on ALEX. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research report on Tuesday, December 9th. 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 report on Wednesday, December 10th. Weiss Ratings raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. Finally, iA Financial set a $20.85 target price on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Alexander & Baldwin presently has a consensus rating of “Hold” and a consensus target price of $20.95.

Institutional Trading of Alexander & Baldwin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Evelyn Partners Asset Management Ltd purchased a new position in Alexander & Baldwin in the second quarter worth about $25,000. Jones Financial Companies Lllp bought a new position in shares of Alexander & Baldwin in the 1st quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alexander & Baldwin by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,125 shares of the financial services provider’s stock worth $44,000 after buying an additional 532 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Alexander & Baldwin in the second quarter worth approximately $46,000. Finally, CIBC Private Wealth Group LLC bought a new stake in Alexander & Baldwin during the third quarter valued at approximately $49,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.0%

ALEX stock traded up $0.01 during trading on Friday, hitting $20.77. 538,073 shares of the stock traded hands, compared to its average volume of 646,278. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 20.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. Alexander & Baldwin has a 1 year low of $15.07 and a 1 year high of $21.03. The firm’s 50 day moving average is $20.65 and its two-hundred day moving average is $18.51.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Friday, December 19th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 138.61%.

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.