Short Interest in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Declines By 21.4%

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 1,275,759 shares, a decrease of 21.4% from the January 15th total of 1,622,699 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 604,821 shares, the short-interest ratio is presently 2.1 days. Approximately 1.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALEX. Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday, December 9th. 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 research note on Wednesday, December 10th. Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 30th. Finally, iA Financial set a $20.85 target price on Alexander & Baldwin in a report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX traded down $0.01 during midday trading on Tuesday, hitting $20.77. 995,343 shares of the company’s stock were exchanged, compared to its average volume of 636,023. Alexander & Baldwin has a twelve month low of $15.07 and a twelve month high of $21.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $1.51 billion, a P/E ratio of 20.56 and a beta of 0.92. The stock’s 50 day moving average price is $20.76 and its 200-day moving average price is $18.56.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were paid a dividend of $0.35 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Friday, December 19th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 138.61%.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently bought and sold shares of the stock. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Alexander & Baldwin in the 2nd quarter worth approximately $25,000. Jones Financial Companies Lllp bought a new stake in Alexander & Baldwin during the first quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Alexander & Baldwin by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,125 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 532 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Alexander & Baldwin during the 2nd quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Alexander & Baldwin during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.