Alexander & Baldwin (NYSE:ALEX) Hits New 12-Month Low at $15.53

Alexander & Baldwin, Inc. (NYSE:ALEX)’s share price reached a new 52-week low on Wednesday . The company traded as low as $15.53 and last traded at $15.59, with a volume of 104662 shares traded. The stock had previously closed at $15.68.

Wall Street Analysts Forecast Growth

ALEX has been the topic of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. TheStreet lowered shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $1.13 billion, a P/E ratio of 39.21 and a beta of 1.21. The stock’s 50 day simple moving average is $16.58 and its 200 day simple moving average is $17.00.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.2225 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase 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 5.69%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 222.50%.

Hedge Funds Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. boosted its stake in shares of Alexander & Baldwin by 2.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 26,710 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 549 shares in the last quarter. Stifel Financial Corp boosted its stake in Alexander & Baldwin by 5.1% in the fourth quarter. Stifel Financial Corp now owns 13,809 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 665 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Alexander & Baldwin by 1.1% in the first quarter. Great West Life Assurance Co. Can now owns 64,806 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 676 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Alexander & Baldwin by 1.1% in the first quarter. Yousif Capital Management LLC now owns 66,896 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 711 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Alexander & Baldwin by 2.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,381 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 815 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.