Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Acquired by Reinhart Partners LLC.

Reinhart Partners LLC. raised its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,553,912 shares of the financial services provider’s stock after acquiring an additional 72,240 shares during the quarter. Alexander & Baldwin makes up about 1.9% of Reinhart Partners LLC.’s holdings, making the stock its 22nd largest holding. Reinhart Partners LLC.’s holdings in Alexander & Baldwin were worth $49,035,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Alexander & Baldwin in the fourth quarter valued at approximately $379,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alexander & Baldwin in the first quarter valued at approximately $41,000. Everett Harris & Co. CA increased its holdings in shares of Alexander & Baldwin by 489.7% in the first quarter. Everett Harris & Co. CA now owns 60,475 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 50,220 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Alexander & Baldwin by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 7,383 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Alexander & Baldwin by 42.9% in the first quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 4,366 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

ALEX stock opened at $18.67 on Friday. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $19.21 and a two-hundred day moving average of $17.67. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 30.60 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Friday, September 20th were paid a $0.2225 dividend. The ex-dividend date of this dividend was Friday, September 20th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.77%. Alexander & Baldwin’s payout ratio is presently 145.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALEX shares. Piper Sandler raised Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners started coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Profile

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.