Alexander & Baldwin’s (ALEX) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Alexander & Baldwin (NYSE:ALEX) in a research report released on Monday morning,Benzinga reports.

ALEX has been the subject of a number of other research reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Alexander & Baldwin presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Stock Down 0.4 %

Shares of NYSE:ALEX opened at $17.30 on Monday. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 27.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The company has a 50 day moving average of $18.81 and a 200-day moving average of $18.71.

Alexander & Baldwin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $0.2225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 5.14%. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

Institutional Trading of Alexander & Baldwin

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 759 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares during the last quarter. Finally, KBC Group NV raised its stake in Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 1,338 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.