Victory Capital Management Inc. Sells 16,327 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Victory Capital Management Inc. decreased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 936,429 shares of the financial services provider’s stock after selling 16,327 shares during the period. Victory Capital Management Inc. owned approximately 1.29% of Alexander & Baldwin worth $15,882,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALEX. Central Pacific Bank Trust Division bought a new position in shares of Alexander & Baldwin in the first quarter worth $32,000. Rothschild Investment LLC bought a new position in shares of Alexander & Baldwin in the second quarter worth $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of Alexander & Baldwin in the first quarter worth $41,000. Quadrant Capital Group LLC increased its position in shares of Alexander & Baldwin by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 2,232 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Alexander & Baldwin in the first quarter worth $108,000. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the topic of a number of recent analyst reports. Piper Sandler upgraded Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $22.00 in a research report on Friday, July 26th. Alliance Global Partners assumed coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $19.81 on Friday. The stock’s 50-day simple moving average is $18.81 and its 200 day simple moving average is $17.28. The firm has a market capitalization of $1.44 billion, a PE ratio of 32.48 and a beta of 1.26. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.49%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

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.