GAMMA Investing LLC Boosts Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

GAMMA Investing LLC increased its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 103.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,494 shares of the financial services provider’s stock after purchasing an additional 759 shares during the quarter. GAMMA Investing LLC’s holdings in Alexander & Baldwin were worth $29,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Isthmus Partners LLC raised its stake in shares of Alexander & Baldwin by 232.0% in the first quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock worth $3,380,000 after buying an additional 143,401 shares during the period. Private Management Group Inc. bought a new stake in Alexander & Baldwin during the 1st quarter worth approximately $2,289,000. Clearbridge Investments LLC lifted its holdings in Alexander & Baldwin by 24.4% during the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Alexander & Baldwin in the second quarter worth approximately $1,386,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Alexander & Baldwin by 271.9% in the second quarter. Harbor Capital Advisors Inc. now owns 110,300 shares of the financial services provider’s stock worth $1,871,000 after purchasing an additional 80,642 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $22.00 in a research note on Friday, July 26th. Alliance Global Partners assumed coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and three have given 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 a consensus target price of $21.33.

Alexander & Baldwin Trading Down 0.5 %

Alexander & Baldwin stock opened at $18.49 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53. The firm’s 50 day moving average price is $19.18 and its 200-day moving average price is $17.75. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The stock has a market cap of $1.34 billion, a P/E ratio of 30.30 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Friday, September 20th were paid a $0.2225 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.81%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 145.90%.

Alexander & Baldwin 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.