Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Expands By 9.3%

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 534,600 shares, an increase of 9.3% from the December 15th total of 489,100 shares. Based on an average trading volume of 331,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in 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 acquiring an additional 759 shares during the period. Versant Capital Management Inc lifted its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alexander & Baldwin by 34.8% during the 3rd 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 during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV raised its holdings in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,338 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Down 1.0 %

NYSE:ALEX traded down $0.18 during mid-day trading on Monday, reaching $17.54. The company’s stock had a trading volume of 236,906 shares, compared to its average volume of 391,280. 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 stock has a market cap of $1.27 billion, a P/E ratio of 28.28 and a beta of 1.29. The company’s fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $18.75. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $0.2225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 5.08%. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

Wall Street Analyst Weigh In

ALEX has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Friday. Finally, JMP Securities restated 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Alexander & Baldwin Company Profile

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.