Dark Forest Capital Management LP Makes New $844,000 Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Dark Forest Capital Management LP bought a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 47,603 shares of the financial services provider’s stock, valued at approximately $844,000.

Several other large investors have also modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,239 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,034 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth about $112,000. XTX Topco Ltd acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth about $206,000. Finally, Aigen Investment Management LP purchased a new position in Alexander & Baldwin during the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

ALEX stock opened at $16.61 on Thursday. The firm has a 50 day moving average of $17.27 and a 200-day moving average of $18.04. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 26.79 and a beta of 1.03. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 12-month low of $15.70 and a 12-month high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. As a group, equities analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.42%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALEX. Piper Sandler boosted their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

About Alexander & Baldwin

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.