Dimensional Fund Advisors LP Boosts Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Dimensional Fund Advisors LP raised its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 20.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,743 shares of the financial services provider’s stock after purchasing an additional 9,730 shares during the period. Dimensional Fund Advisors LP’s holdings in Alexander & Baldwin were worth $979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALEX. Louisiana State Employees Retirement System grew its position in shares of Alexander & Baldwin by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Alexander & Baldwin by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 733 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Alexander & Baldwin by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 822 shares during the period. ProShare Advisors LLC raised its holdings in shares of Alexander & Baldwin by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 1,001 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Alexander & Baldwin by 7.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 23,687 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,553 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Up 1.1 %

Shares of NYSE:ALEX opened at $18.67 on Friday. The business has a 50-day moving average price of $19.21 and a 200 day moving average price of $17.68. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.61 and a beta of 1.26. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were given a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.77%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler upgraded 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 assumed coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

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.