Brokerages Set Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) PT at $20.95

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $20.95.

A number of analysts recently weighed in on ALEX shares. Janney Montgomery Scott lowered shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Wednesday, December 10th. iA Financial set a $20.85 price objective on shares of Alexander & Baldwin 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. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Tuesday, December 9th. Finally, Alliance Global Partners cut Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th.

Alexander & Baldwin Stock Up 0.0%

Shares of NYSE ALEX opened at $20.80 on Monday. Alexander & Baldwin has a 52-week low of $15.07 and a 52-week high of $21.03. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.59 and a beta of 0.92. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $18.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38.

Alexander & Baldwin Increases Dividend

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

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors have recently bought and sold shares of ALEX. Evelyn Partners Asset Management Ltd purchased a new position in Alexander & Baldwin in the second quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alexander & Baldwin by 33.4% in the 4th 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 in the last quarter. Jones Financial Companies Lllp purchased a new position in Alexander & Baldwin during the 1st quarter worth $41,000. Elevation Point Wealth Partners LLC acquired a new position in 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 valued at about $49,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.