Central Pacific Bank Trust Division Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Central Pacific Bank Trust Division purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the financial services provider’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Alexander & Baldwin in the 1st quarter valued at $41,000. Federated Hermes Inc. lifted its position in Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,240 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Alexander & Baldwin by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 2,232 shares in the last quarter. Van ECK Associates Corp lifted its position in Alexander & Baldwin by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Everett Harris & Co. CA bought a new stake in Alexander & Baldwin during the 4th quarter worth about $195,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 1.8 %

Shares of ALEX stock opened at $17.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50-day moving average is $16.69 and its 200-day moving average is $16.92. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 28.30 and a beta of 1.26. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same period in the prior year, the firm earned $0.29 EPS. Sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.15 EPS for the current year.

Alexander & Baldwin Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 14th were issued a $0.222 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.14%. Alexander & Baldwin’s payout ratio is 145.90%.

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 on the stock in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Alexander & Baldwin presently has a consensus rating of “Hold” and an average target price of $18.50.

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.