Alexander & Baldwin (NYSE:ALEX) Sets New 52-Week Low at $15.53

Alexander & Baldwin, Inc. (NYSE:ALEX) reached a new 52-week low during trading on Wednesday . The stock traded as low as $15.53 and last traded at $15.59, with a volume of 104662 shares trading hands. The stock had previously closed at $15.68.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler reduced their price objective on 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 cut Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Alexander & Baldwin has a consensus rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Trading Up 2.1 %

The business has a fifty day moving average price of $16.50 and a two-hundred day moving average price of $16.97. The firm has a market capitalization of $1.17 billion, a PE ratio of 40.00 and a beta of 1.21. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a yield of 5.53%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is 222.50%.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in Alexander & Baldwin in the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC raised its position in Alexander & Baldwin by 500.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,752 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,460 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Alexander & Baldwin in the 1st quarter valued at about $41,000. Federated Hermes Inc. raised its position in Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Alexander & Baldwin by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 2,232 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.