Alexander & Baldwin, Inc. to Issue Quarterly Dividend of $0.22 (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be paid a dividend of 0.2225 per share by the financial services provider on Wednesday, January 8th. This represents a $0.89 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, December 20th.

Alexander & Baldwin has increased its dividend by an average of 37.4% annually over the last three years. Alexander & Baldwin has a dividend payout ratio of 141.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Trading Up 0.1 %

ALEX stock traded up $0.02 during midday trading on Friday, reaching $19.44. The company’s stock had a trading volume of 224,347 shares, compared to its average volume of 320,943. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.32 and a beta of 1.27. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a fifty day simple moving average of $19.07 and a two-hundred day simple moving average of $18.44.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALEX shares. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, 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. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $21.67.

Alexander & Baldwin Company 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.