Alexander & Baldwin (NYSE:ALEX) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler restated their overweight rating on shares of Alexander & Baldwin (NYSE:ALEX) in a research note issued to investors on Friday, Benzinga reports. They currently have a $23.00 price target on the financial services provider’s stock, up from their previous price target of $22.00.

Separately, Alliance Global Partners began coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $18.74 on Friday. The company has a market cap of $1.36 billion, a P/E ratio of 30.72 and a beta of 1.26. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30. The company’s 50-day moving average price is $19.14 and its 200-day moving average price is $17.86. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Private Management Group Inc. acquired a new stake in Alexander & Baldwin during the first quarter worth $2,289,000. Clearbridge Investments LLC raised its holdings in Alexander & Baldwin by 24.4% in the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after buying an additional 122,286 shares during the period. Wakefield Asset Management LLLP purchased a new position in Alexander & Baldwin during the second quarter worth about $948,000. Reinhart Partners LLC. boosted its stake in Alexander & Baldwin by 2.9% during the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after buying an additional 72,240 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Alexander & Baldwin by 18.7% during the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock valued at $772,000 after acquiring an additional 7,383 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.