AlphaQuest LLC Acquires New Holdings in Alexander & Baldwin Holdings, Inc. $ALEX

AlphaQuest LLC bought a new position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,380 shares of the financial services provider’s stock, valued at approximately $1,117,000. AlphaQuest LLC owned 0.08% of Alexander & Baldwin as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Everett Harris & Co. CA lifted its position in Alexander & Baldwin by 3.6% during the 3rd quarter. Everett Harris & Co. CA now owns 228,645 shares of the financial services provider’s stock worth $4,159,000 after acquiring an additional 7,895 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in Alexander & Baldwin during the third quarter worth about $678,000. Resona Asset Management Co. Ltd. increased its position in shares of Alexander & Baldwin by 10.2% during the third quarter. Resona Asset Management Co. Ltd. now owns 32,171 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 2,988 shares during the period. Teacher Retirement System of Texas increased its holdings in Alexander & Baldwin by 53.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 64,151 shares of the financial services provider’s stock valued at $1,167,000 after buying an additional 22,209 shares during the period. Finally, Covestor Ltd increased its stake in Alexander & Baldwin by 44.2% in the third quarter. Covestor Ltd now owns 3,068 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 941 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Industrial Alliance Securities set a $20.85 target price on Alexander & Baldwin in a research report on Wednesday, December 10th. Alliance Global Partners cut Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Janney Montgomery Scott lowered Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Wednesday, December 10th. Finally, Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Tuesday, December 9th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Alexander & Baldwin presently has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock opened at $20.74 on Monday. The stock has a 50-day simple moving average of $19.59 and a 200 day simple moving average of $18.32. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.53 and a beta of 0.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47. Alexander & Baldwin Holdings, Inc. has a 12-month low of $15.07 and a 12-month high of $21.03.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 earnings per share 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 company had revenue of $50.25 million during the quarter, compared to analyst estimates of $50.69 million. On average, research analysts anticipate that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were issued a $0.35 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, December 19th. Alexander & Baldwin’s dividend payout ratio (DPR) 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.