Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by DigitalBridge Group Inc.

DigitalBridge Group Inc. trimmed its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 60.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,191 shares of the financial services provider’s stock after selling 169,100 shares during the period. DigitalBridge Group Inc. owned 0.15% of Alexander & Baldwin worth $1,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALEX. Intech Investment Management LLC boosted its position in shares of Alexander & Baldwin by 167.5% during the fourth quarter. Intech Investment Management LLC now owns 33,986 shares of the financial services provider’s stock worth $603,000 after buying an additional 21,283 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,239 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock worth $35,723,000 after purchasing an additional 43,333 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Alexander & Baldwin by 32.8% during the fourth quarter. Prudential Financial Inc. now owns 99,997 shares of the financial services provider’s stock valued at $1,774,000 after purchasing an additional 24,700 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Alexander & Baldwin during the fourth quarter valued at about $844,000. Institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ALEX shares. StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Piper Sandler raised their price objective on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $17.27 on Wednesday. The company has a 50-day moving average of $17.13 and a 200-day moving average of $17.93. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 27.86 and a beta of 0.99. 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 twelve month low of $15.70 and a twelve month high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin’s dividend payout ratio is 105.88%.

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.