Everett Harris & Co. CA Has $996,000 Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Everett Harris & Co. CA increased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 489.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,475 shares of the financial services provider’s stock after buying an additional 50,220 shares during the quarter. Everett Harris & Co. CA owned 0.08% of Alexander & Baldwin worth $996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Isthmus Partners LLC bought a new position in shares of Alexander & Baldwin in the 4th quarter valued at about $1,176,000. Regency Capital Management Inc. DE raised its stake in shares of Alexander & Baldwin by 27.9% during the 4th quarter. Regency Capital Management Inc. DE now owns 322,232 shares of the financial services provider’s stock worth $6,129,000 after purchasing an additional 70,251 shares in the last quarter. DigitalBridge Group Inc. raised its stake in shares of Alexander & Baldwin by 26.9% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,062,380 shares of the financial services provider’s stock worth $17,774,000 after purchasing an additional 225,441 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Alexander & Baldwin by 51.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 173,375 shares of the financial services provider’s stock valued at $3,331,000 after buying an additional 58,701 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alexander & Baldwin by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,461,071 shares of the financial services provider’s stock valued at $27,790,000 after buying an additional 60,119 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Stock Performance

ALEX opened at $16.77 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $19.99. The business has a 50 day moving average of $16.64 and a 200-day moving average of $16.98. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 27.49 and a beta of 1.26.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The business had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. During the same quarter last year, the firm posted $0.29 EPS. On average, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.15 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be paid a $0.222 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.30%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.90%.

Alexander & Baldwin 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.