Y Intercept Hong Kong Ltd Reduces Stock Position in Alexander & Baldwin Holdings, Inc. $ALEX

Y Intercept Hong Kong Ltd trimmed its position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 63.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,519 shares of the financial services provider’s stock after selling 64,403 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Alexander & Baldwin were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALEX. Franklin Resources Inc. increased its holdings in Alexander & Baldwin by 33.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock worth $44,886,000 after buying an additional 626,289 shares during the period. Norges Bank purchased a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at $6,359,000. Millennium Management LLC increased its stake in shares of Alexander & Baldwin by 81.8% in the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock worth $12,715,000 after acquiring an additional 331,969 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alexander & Baldwin by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after acquiring an additional 263,483 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Alexander & Baldwin during the second quarter worth $3,939,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Industrial Alliance Securities set a $20.85 price target on Alexander & Baldwin in a research report on Wednesday, December 10th. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Wednesday, December 10th. Weiss Ratings raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Tuesday, December 9th. Finally, Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Down 0.0%

Shares of ALEX opened at $20.74 on Tuesday. The firm has a market cap of $1.51 billion, a P/E ratio of 20.53 and a beta of 0.92. Alexander & Baldwin Holdings, Inc. has a 12 month low of $15.07 and a 12 month high of $21.03. The stock’s 50 day moving average is $19.70 and its two-hundred day moving average is $18.34. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, December 19th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s payout ratio is presently 138.61%.

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.