Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Acuitas Investments LLC

Acuitas Investments LLC lowered its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 58.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 97,862 shares of the financial services provider’s stock after selling 136,117 shares during the period. Acuitas Investments LLC’s holdings in Alexander & Baldwin were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in shares of Alexander & Baldwin by 88.5% during the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,240 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Alexander & Baldwin by 46.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,114 shares in the last quarter. Everett Harris & Co. CA bought a new position in shares of Alexander & Baldwin during the 4th quarter valued at $195,000. Duality Advisers LP bought a new position in shares of Alexander & Baldwin during the 4th quarter valued at $199,000. Finally, Cerity Partners LLC bought a new position in shares of Alexander & Baldwin during the 4th quarter valued at $211,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded up $0.46 on Friday, hitting $16.29. 86,427 shares of the company were exchanged, compared to its average volume of 311,233. The company’s 50 day moving average price is $16.38 and its two-hundred day moving average price is $16.97. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $19.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 40.88 and a beta of 1.21.

Alexander & Baldwin Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be paid a dividend of $0.222 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is 222.50%.

Alexander & Baldwin Company Profile

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.