Point72 Asset Management L.P. Has $175,000 Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

Point72 Asset Management L.P. increased its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 35.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,100 shares of the financial services provider’s stock after purchasing an additional 2,363 shares during the period. Point72 Asset Management L.P.’s holdings in Alexander & Baldwin were worth $175,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alexander & Baldwin by 386.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after buying an additional 382,327 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after purchasing an additional 190,357 shares during the period. Harbor Capital Advisors Inc. grew its position in Alexander & Baldwin by 101.0% in 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 period. Hantz Financial Services Inc. bought a new stake in Alexander & Baldwin during the 2nd quarter valued at $1,386,000. Finally, Reinhart Partners LLC. raised its holdings in Alexander & Baldwin by 2.9% during the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after buying an additional 72,240 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALEX. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $18.86 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a 50-day moving average of $19.10 and a 200-day moving average of $18.55. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30. The company has a market cap of $1.37 billion, a P/E ratio of 30.42 and a beta of 1.27.

Alexander & Baldwin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $0.2225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 4.72%. Alexander & Baldwin’s dividend payout ratio (DPR) is 143.55%.

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.