Alexander & Baldwin (NYSE:ALEX) Stock Rating Lowered by StockNews.com

Alexander & Baldwin (NYSE:ALEX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other research firms also recently issued reports on ALEX. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Piper Sandler reaffirmed 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Trading Down 0.4 %

Shares of NYSE:ALEX traded down $0.07 during mid-day trading on Thursday, hitting $19.58. The company had a trading volume of 269,035 shares, compared to its average volume of 323,982. The firm has a fifty day moving average price of $19.09 and a 200 day moving average price of $18.03. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. 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 company has a market capitalization of $1.42 billion, a PE ratio of 31.58 and a beta of 1.26.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently modified their holdings of ALEX. GAMMA Investing LLC increased its position in shares of Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after buying an additional 759 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Alexander & Baldwin during the first quarter worth about $32,000. Rothschild Investment LLC purchased a new position in shares of Alexander & Baldwin during the second quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alexander & Baldwin during the first quarter worth about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 727 shares in the last quarter. 91.29% of the stock is currently owned by 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.