Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Given Average Recommendation of “Hold” by Analysts

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.95.

Several research firms recently weighed in on ALEX. Alliance Global Partners cut shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Industrial Alliance Securities set a $20.85 price objective 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 target price on the stock. in a report on Wednesday, December 10th. Piper Sandler downgraded Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Tuesday, December 9th. Finally, Weiss Ratings upgraded Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 30th.

Alexander & Baldwin Trading Up 0.0%

Shares of ALEX opened at $20.76 on Thursday. The firm has a market cap of $1.51 billion, a P/E ratio of 20.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. Alexander & Baldwin has a 1 year low of $15.07 and a 1 year high of $21.03. The company has a 50 day simple moving average of $19.90 and a two-hundred day simple moving average of $18.38.

Alexander & Baldwin Increases Dividend

The firm also recently announced 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 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. The ex-dividend date of this dividend was Friday, December 19th. Alexander & Baldwin’s payout ratio is 138.61%.

Hedge Funds Weigh In On Alexander & Baldwin

Institutional investors have recently bought and sold shares of the business. Evelyn Partners Asset Management Ltd bought a new stake in shares of Alexander & Baldwin in the 2nd quarter worth about $25,000. Jones Financial Companies Lllp purchased a new position in Alexander & Baldwin in the first quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Alexander & Baldwin by 33.4% during 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 acquiring an additional 532 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Alexander & Baldwin during the second quarter worth approximately $46,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Alexander & Baldwin during the third quarter valued at approximately $49,000. Institutional investors 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.