Alexander & Baldwin, Inc. (NYSE:ALEX) Announces Quarterly Dividend of $0.22

Alexander & Baldwin, Inc. (NYSE:ALEX) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.222 per share by the financial services provider on Monday, July 8th. This represents a $0.89 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Friday, June 14th.

Alexander & Baldwin has raised its dividend payment by an average of 37.4% annually over the last three years and has raised its dividend every year for the last 3 years. Alexander & Baldwin has a dividend payout ratio of 134.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Stock Up 3.7 %

NYSE ALEX traded up $0.59 during mid-day trading on Friday, reaching $16.42. The stock had a trading volume of 15,307 shares, compared to its average volume of 310,457. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $19.99. The stock has a market cap of $1.19 billion, a PE ratio of 39.58 and a beta of 1.21. The company has a fifty day moving average price of $16.38 and a 200 day moving average price of $16.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler lowered their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.50.

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.