Everett Harris & Co. CA Takes $195,000 Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Everett Harris & Co. CA purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,255 shares of the financial services provider’s stock, valued at approximately $195,000.

A number of other institutional investors also recently modified their holdings of ALEX. CenterBook Partners LP increased its position in Alexander & Baldwin by 2.1% during the third quarter. CenterBook Partners LP now owns 60,705 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 1,247 shares during the period. DigitalBridge Group Inc. increased its position in Alexander & Baldwin by 26.9% during the third quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after acquiring an additional 225,441 shares during the period. Janney Montgomery Scott LLC increased its holdings in Alexander & Baldwin by 74.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,165 shares of the financial services provider’s stock valued at $438,000 after buying an additional 11,132 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Alexander & Baldwin by 6.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 47,668 shares of the financial services provider’s stock valued at $797,000 after buying an additional 2,806 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its stake in shares of Alexander & Baldwin by 3.2% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 679,771 shares of the financial services provider’s stock valued at $11,373,000 after buying an additional 21,287 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX traded up $0.15 during trading hours on Thursday, hitting $16.47. 482,268 shares of the stock were exchanged, compared to its average volume of 327,693. The company has a market cap of $1.20 billion, a PE ratio of 41.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. The company’s fifty day simple moving average is $16.97 and its two-hundred day simple moving average is $17.08. Alexander & Baldwin, Inc. has a 1-year low of $15.56 and a 1-year high of $19.99.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.2225 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.89 annualized dividend and a dividend yield of 5.40%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 222.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALEX. Piper Sandler cut their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. TheStreet lowered shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Janney Montgomery Scott assumed coverage on shares of Alexander & Baldwin in a research report on Tuesday, December 12th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, JMP Securities assumed coverage on shares of Alexander & Baldwin in a research report on Wednesday, November 29th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Alexander & Baldwin has an average rating of “Hold” and an average price target of $18.50.

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.