Alexander & Baldwin (NYSE:ALEX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Alexander & Baldwin (NYSE:ALEXFree Report) from a buy rating to a hold rating in a research note published on Tuesday morning.

ALEX has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Check Out Our Latest Stock Report on ALEX

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.78 on Tuesday. The firm has a market cap of $1.29 billion, a PE ratio of 28.67 and a beta of 1.29. The firm’s 50 day moving average price is $18.21 and its 200 day moving average price is $18.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is 145.16%.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in Alexander & Baldwin by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 13,787 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 1,277 shares during the period. Kestra Private Wealth Services LLC increased its position in Alexander & Baldwin by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 648 shares during the period. Entropy Technologies LP bought a new position in Alexander & Baldwin during the fourth quarter worth $341,000. Jennison Associates LLC bought a new position in Alexander & Baldwin during the fourth quarter worth $730,000. Finally, Vert Asset Management LLC bought a new position in Alexander & Baldwin during the fourth quarter worth $428,000. Institutional investors own 91.29% of the company’s stock.

About Alexander & Baldwin

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Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.

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