Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Update

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 548,400 shares, an increase of 7.5% from the October 31st total of 510,300 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 301,500 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Alexander & Baldwin

A number of institutional investors and hedge funds have recently made changes to their positions in ALEX. GAMMA Investing LLC increased its stake 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 valued at $29,000 after acquiring an additional 759 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alexander & Baldwin by 34.8% in 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 purchasing an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 572 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after buying an additional 1,338 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Down 0.4 %

Shares of Alexander & Baldwin stock opened at $19.60 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.61 and a beta of 1.26. The firm’s 50-day moving average price is $19.07 and its two-hundred day moving average price is $18.41.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler restated an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Alexander & Baldwin has an average rating of “Buy” and an average target price of $21.67.

About Alexander & Baldwin

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.