Analysts Set Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) PT at $20.95

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) has been assigned an average recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.95.

A number of research firms recently weighed in on ALEX. Industrial Alliance Securities set a $20.85 target price on shares of Alexander & Baldwin in a report on Wednesday, December 10th. Piper Sandler lowered shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Alexander & Baldwin in a report on Monday, December 29th. Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Janney Montgomery Scott cut shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Wednesday, December 10th.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its holdings in Alexander & Baldwin by 6.1% during the 1st quarter. American Century Companies Inc. now owns 25,656 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 1,468 shares during the last quarter. Royal Bank of Canada boosted its position in Alexander & Baldwin by 38.8% during the first quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 6,906 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Alexander & Baldwin in the 1st quarter valued at about $191,000. Hancock Whitney Corp grew its position in shares of Alexander & Baldwin by 17.3% during the 1st quarter. Hancock Whitney Corp now owns 15,621 shares of the financial services provider’s stock worth $269,000 after buying an additional 2,300 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Alexander & Baldwin in the first quarter valued at $2,969,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.3%

Alexander & Baldwin stock opened at $20.72 on Friday. Alexander & Baldwin has a fifty-two week low of $15.07 and a fifty-two week high of $21.03. The company has a market cap of $1.51 billion, a PE ratio of 20.51 and a beta of 0.94. The business’s 50-day simple moving average is $17.81 and its two-hundred day simple moving average is $17.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. The firm had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. Equities analysts anticipate that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, December 19th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, December 19th. Alexander & Baldwin’s dividend payout ratio is 138.61%.

About Alexander & Baldwin

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.