Alexander & Baldwin (NYSE:ALEX) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other equities analysts have also recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners started coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexander & Baldwin has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Trading Up 0.8 %

Shares of NYSE:ALEX traded up $0.15 during trading on Thursday, reaching $19.72. The company’s stock had a trading volume of 355,148 shares, compared to its average volume of 324,125. The stock has a market capitalization of $1.43 billion, a PE ratio of 31.58 and a beta of 1.26. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm’s 50 day simple moving average is $19.09 and its two-hundred day simple moving average is $18.03.

Institutional Trading of Alexander & Baldwin

Several institutional investors and hedge funds have recently made changes to their positions in ALEX. Isthmus Partners LLC boosted its position in Alexander & Baldwin by 232.0% during the first quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock valued at $3,380,000 after purchasing an additional 143,401 shares in the last quarter. Private Management Group Inc. purchased a new position in Alexander & Baldwin in the first quarter worth $2,289,000. Clearbridge Investments LLC grew its holdings in Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after purchasing an additional 122,286 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after purchasing an additional 111,392 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Alexander & Baldwin during the 2nd quarter worth $1,386,000. 91.29% of the stock is currently owned by institutional investors.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.