Alexander & Baldwin (NYSE:ALEX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a research note published on Thursday morning.

ALEX has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They set 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Trading Up 0.8 %

Shares of ALEX stock opened at $19.72 on Thursday. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. The firm has a market capitalization of $1.43 billion, a PE ratio of 31.81 and a beta of 1.26. The stock has a fifty day moving average of $19.09 and a two-hundred day moving average of $18.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Institutional Trading of Alexander & Baldwin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Isthmus Partners LLC lifted its position in shares of Alexander & Baldwin by 232.0% during the 1st quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock valued at $3,380,000 after acquiring an additional 143,401 shares during the last quarter. Private Management Group Inc. acquired a new position in shares of Alexander & Baldwin in the 1st quarter valued at $2,289,000. Clearbridge Investments LLC boosted its position in shares of 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 purchasing an additional 122,286 shares during the period. Harbor Capital Advisors Inc. increased its stake in Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in Alexander & Baldwin during the 2nd quarter worth about $1,386,000. 91.29% of the stock is owned by institutional investors and hedge funds.

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.