Alexander & Baldwin (NYSE:ALEX) Releases Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Alexander & Baldwin (NYSE:ALEX) posted its quarterly earnings data on Friday. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.21), FiscalAI reports. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. The company had revenue of $50.99 million for the quarter, compared to the consensus estimate of $49.99 million.

Alexander & Baldwin Stock Performance

ALEX traded down $0.01 during midday trading on Friday, hitting $20.80. 1,140,692 shares of the company traded hands, compared to its average volume of 706,779. The company’s 50-day moving average is $20.74 and its 200 day moving average is $18.70. Alexander & Baldwin has a 52 week low of $15.07 and a 52 week 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 firm has a market capitalization of $1.51 billion, a PE ratio of 20.59 and a beta of 0.92.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were given 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 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, December 19th. Alexander & Baldwin’s payout ratio is 138.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in Alexander & Baldwin in the first quarter valued at $41,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Alexander & Baldwin during the third quarter worth about $49,000. Tower Research Capital LLC TRC lifted its stake in shares of Alexander & Baldwin by 184.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,668 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 3,674 shares during the period. Federation des caisses Desjardins du Quebec raised its position in Alexander & Baldwin by 26.6% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,798 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 1,218 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Alexander & Baldwin by 61.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,602 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 2,902 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Alexander & Baldwin

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.