Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Increases By 9.3%

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 534,600 shares, a growth of 9.3% from the December 31st total of 489,100 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 331,200 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Alexander & Baldwin presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds and other institutional investors have recently modified their holdings of the stock. LDR Capital Management LLC grew its holdings in Alexander & Baldwin by 26.7% during the fourth quarter. LDR Capital Management LLC now owns 111,844 shares of the financial services provider’s stock worth $1,984,000 after acquiring an additional 23,545 shares during the period. Principal Financial Group Inc. boosted its position in shares of Alexander & Baldwin by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 352,238 shares of the financial services provider’s stock valued at $6,249,000 after purchasing an additional 9,901 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Alexander & Baldwin by 5.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 116,654 shares of the financial services provider’s stock worth $2,069,000 after purchasing an additional 5,811 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Alexander & Baldwin by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 13,787 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Alexander & Baldwin by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 648 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Price Performance

Shares of NYSE:ALEX opened at $17.99 on Tuesday. The company has a market cap of $1.31 billion, a PE ratio of 29.01 and a beta of 1.29. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm has a 50-day simple moving average of $18.18 and a 200 day simple moving average of $18.78. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is currently 145.16%.

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.