Regency Capital Management Inc. DE Has $5.69 Million Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Regency Capital Management Inc. DE cut its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,702 shares of the financial services provider’s stock after selling 43,173 shares during the period. Alexander & Baldwin comprises approximately 3.7% of Regency Capital Management Inc. DE’s investment portfolio, making the stock its 11th biggest position. Regency Capital Management Inc. DE’s holdings in Alexander & Baldwin were worth $5,694,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALEX. Point72 Asset Management L.P. raised its position in Alexander & Baldwin by 274.3% in the second quarter. Point72 Asset Management L.P. now owns 6,737 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 4,937 shares during the last quarter. Quarry LP raised its holdings in Alexander & Baldwin by 577.4% in the 2nd quarter. Quarry LP now owns 5,047 shares of the financial services provider’s stock valued at $86,000 after buying an additional 4,302 shares during the last quarter. Algert Global LLC raised its holdings in Alexander & Baldwin by 10.0% in the 2nd quarter. Algert Global LLC now owns 80,130 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 7,300 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Alexander & Baldwin by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,563 shares of the financial services provider’s stock worth $654,000 after buying an additional 1,938 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Alexander & Baldwin during the 2nd quarter worth approximately $219,000. 91.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALEX shares. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Alexander & Baldwin Stock Performance

ALEX opened at $19.20 on Tuesday. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a fifty day moving average of $19.29 and a 200-day moving average of $17.51. The stock has a market cap of $1.39 billion, a PE ratio of 31.48 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.2225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend 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.