Alexander & Baldwin (NYSE:ALEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a research report released on Monday morning.

Other equities analysts have also recently issued reports about the stock. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Trading Up 0.6 %

Shares of Alexander & Baldwin stock opened at $19.78 on Monday. The company has a fifty day simple moving average of $19.07 and a 200-day simple moving average of $18.33. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 31.71 and a beta of 1.26.

Institutional Trading of Alexander & Baldwin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 759 shares in the last quarter. Rothschild Investment LLC acquired a new position in Alexander & Baldwin in the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alexander & Baldwin by 34.8% in 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 during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares during the last quarter. Finally, KBC Group NV raised its stake in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,338 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors.

About Alexander & Baldwin

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.