Alexander & Baldwin (NYSE:ALEX) PT Lowered to $17.00 at Piper Sandler

Alexander & Baldwin (NYSE:ALEX) had its price target trimmed by Piper Sandler from $19.00 to $17.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on ALEX. Janney Montgomery Scott initiated coverage on shares of Alexander & Baldwin in a research note on Tuesday, December 12th. They issued a buy rating and a $20.00 target price on the stock. TheStreet lowered shares of Alexander & Baldwin from a b- rating to a c+ rating in a research note on Wednesday, February 28th. Finally, JMP Securities assumed coverage on shares of Alexander & Baldwin in a research report on Wednesday, November 29th. They set a market perform rating on the stock. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Alexander & Baldwin presently has a consensus rating of Hold and an average price target of $18.50.

Alexander & Baldwin Stock Performance

NYSE ALEX traded up $0.15 during trading hours on Thursday, hitting $16.11. 355,636 shares of the stock were exchanged, compared to its average volume of 315,638. Alexander & Baldwin has a 12-month low of $15.56 and a 12-month high of $19.99. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 40.28 and a beta of 1.21. The stock has a 50-day moving average of $17.28 and a 200 day moving average of $17.16.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.2225 dividend. The ex-dividend date is Thursday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.52%. Alexander & Baldwin’s dividend payout ratio (DPR) is 222.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CenterBook Partners LP lifted its holdings in shares of Alexander & Baldwin by 2.1% in the 3rd quarter. CenterBook Partners LP now owns 60,705 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,247 shares in the last quarter. DigitalBridge Group Inc. increased its stake in Alexander & Baldwin by 26.9% in the 3rd quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after purchasing an additional 225,441 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Alexander & Baldwin by 74.1% during the third quarter. Janney Montgomery Scott LLC now owns 26,165 shares of the financial services provider’s stock valued at $438,000 after buying an additional 11,132 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Alexander & Baldwin by 6.3% in the third quarter. Nisa Investment Advisors LLC now owns 47,668 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 2,806 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in shares of Alexander & Baldwin by 3.2% during the third quarter. Mesirow Institutional Investment Management Inc. now owns 679,771 shares of the financial services provider’s stock valued at $11,373,000 after purchasing an additional 21,287 shares in the last quarter. Institutional investors own 84.93% of the company’s stock.

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.