Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Down 9.5% in October

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 561,300 shares, a decline of 9.5% from the September 30th total of 620,000 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 354,700 shares, the short-interest ratio is presently 1.6 days.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded up $0.04 during mid-day trading on Wednesday, reaching $19.02. 310,250 shares of the company traded hands, compared to its average volume of 324,085. The company’s 50 day moving average price is $19.14 and its 200-day moving average price is $17.90. The firm has a market cap of $1.38 billion, a PE ratio of 31.11 and a beta of 1.26. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of recent research reports. Alliance Global Partners assumed coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Institutional Trading of Alexander & Baldwin

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Management Group Inc. bought a new position in Alexander & Baldwin in the 1st quarter worth $2,289,000. Clearbridge Investments LLC lifted its position in shares of Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after acquiring an additional 122,286 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of Alexander & Baldwin in the second quarter worth about $948,000. Reinhart Partners LLC. grew its position in shares of 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 purchasing an additional 72,240 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Alexander & Baldwin by 18.7% during the 1st quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 7,383 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Company Profile

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.