Analysts Set Alexander & Baldwin, Inc. (NYSE:ALEX) Price Target at $21.33

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been assigned an average rating of “Moderate Buy” from the four research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $21.33.

A number of research firms recently issued reports on ALEX. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price for the company.

Alexander & Baldwin Stock Down 0.7 %

Shares of NYSE ALEX opened at $19.07 on Friday. The firm has a fifty day simple moving average of $19.30 and a two-hundred day simple moving average of $17.53. The firm has a market capitalization of $1.38 billion, a PE ratio of 31.23 and a beta of 1.26. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be paid a dividend of $0.2225 per share. The ex-dividend date is Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.67%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 145.90%.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its holdings in Alexander & Baldwin by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 600 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Alexander & Baldwin by 7.0% during the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after buying an additional 733 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Alexander & Baldwin by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 822 shares in the last quarter. ProShare Advisors LLC raised its position in Alexander & Baldwin by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock worth $241,000 after buying an additional 1,001 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Alexander & Baldwin by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 141,890 shares of the financial services provider’s stock valued at $2,337,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 91.29% of the company’s stock.

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.