Alexander & Baldwin Holdings, Inc. (ALEX) To Go Ex-Dividend on December 19th

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) declared a quarterly dividend on Monday, December 8th. Stockholders of record on Friday, December 19th will be given a dividend of 0.35 per share by the financial services provider on Thursday, January 8th. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, December 19th. This is a 55.6% increase from Alexander & Baldwin’s previous quarterly dividend of $0.23.

Alexander & Baldwin has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Alexander & Baldwin has a dividend payout ratio of 126.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Stock Performance

Shares of ALEX stock traded up $0.06 during trading on Wednesday, reaching $20.91. 689,242 shares of the company’s stock traded hands, compared to its average volume of 486,899. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $17.56. The company has a market capitalization of $1.52 billion, a P/E ratio of 20.72, a PEG ratio of 1.36 and a beta of 1.00. Alexander & Baldwin has a 1 year low of $15.07 and a 1 year high of $20.97. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALEX. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander & Baldwin in a report on Monday. Piper Sandler cut 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. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.00.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.