Thrivent Financial for Lutherans Sells 2,664 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Thrivent Financial for Lutherans trimmed its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,262 shares of the financial services provider’s stock after selling 2,664 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Alexander & Baldwin worth $1,022,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Alexander & Baldwin during the first quarter valued at approximately $32,000. Rothschild Investment LLC bought a new stake in Alexander & Baldwin in the 2nd quarter worth approximately $35,000. Allspring Global Investments Holdings LLC purchased a new stake in Alexander & Baldwin during the first quarter valued at $41,000. EntryPoint Capital LLC bought a new position in shares of Alexander & Baldwin in the 1st quarter valued at about $108,000. Finally, LRI Investments LLC purchased a new position in shares of Alexander & Baldwin in the 1st quarter worth approximately $129,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.7 %

Alexander & Baldwin stock opened at $18.81 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 30.84 and a beta of 1.26. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The business’s 50-day moving average price is $19.32 and its 200 day moving average price is $17.60. 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 disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be issued a $0.2225 dividend. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 4.73%. The ex-dividend date is Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

Wall Street Analysts Forecast Growth

ALEX has been the topic of several recent analyst reports. Alliance Global Partners started coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $17.00 to $22.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Alexander & Baldwin presently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

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.