Jennison Associates LLC Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Jennison Associates LLC bought a new position in Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,177 shares of the financial services provider’s stock, valued at approximately $730,000. Jennison Associates LLC owned approximately 0.06% of Alexander & Baldwin at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. increased its stake 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 acquiring an additional 572 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Alexander & Baldwin by 5.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 683 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares during the period. GAMMA Investing LLC lifted its position in Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares during the last quarter. Finally, CKW Financial Group increased its position in Alexander & Baldwin by 5.8% during the third quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 924 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Price Performance

ALEX opened at $18.02 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 29.06 and a beta of 1.29. The business’s fifty day simple moving average is $18.08 and its 200-day simple moving average is $18.78. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30.

Alexander & Baldwin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 4.94%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s payout ratio is 145.16%.

Wall Street Analyst Weigh In

ALEX has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.50.

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.