Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Sees Significant Increase in Short Interest

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,252,766 shares, an increase of 53.5% from the December 15th total of 816,384 shares. Based on an average daily volume of 838,256 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.7% of the company’s shares are sold short. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 838,256 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently added to or reduced their stakes in the business. Evelyn Partners Asset Management Ltd purchased a new position in Alexander & Baldwin in the second quarter valued at about $25,000. Jones Financial Companies Lllp acquired a new stake in shares of Alexander & Baldwin in the first quarter valued at about $41,000. Parallel Advisors LLC raised its holdings in shares of Alexander & Baldwin by 76.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,069 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Alexander & Baldwin during the 2nd quarter valued at about $46,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Alexander & Baldwin during the 3rd quarter worth approximately $49,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Up 0.1%

Shares of NYSE ALEX traded up $0.02 during midday trading on Friday, hitting $20.85. The stock had a trading volume of 743,157 shares, compared to its average volume of 654,286. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 20.65 and a beta of 0.94. Alexander & Baldwin has a 1-year low of $15.07 and a 1-year high of $21.03. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $18.59 and a 200 day moving average price of $18.12.

Alexander & Baldwin (NYSE:ALEX) last posted 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). The business had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%. On average, analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s payout ratio is 138.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALEX. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research 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 note on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alexander & Baldwin in a research note on Monday, December 29th. Janney Montgomery Scott lowered shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Wednesday, December 10th. Finally, Industrial Alliance Securities set a $20.85 target price on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.95.

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.