Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Average Recommendation of “Moderate Buy” from Analysts

Alexander & Baldwin, Inc. (NYSE:ALEX) has received a consensus recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.67.

A number of research analysts have commented on the company. 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 note on Friday, October 25th. Alliance Global Partners began coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price for the company. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Alexander & Baldwin Stock Down 0.3 %

Shares of NYSE ALEX opened at $19.44 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of 31.35 and a beta of 1.26. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a 50-day moving average of $19.09 and a 200 day moving average of $18.24.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC lifted its position in Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after acquiring an additional 122,286 shares during the period. Victory Capital Management Inc. raised its stake in shares of Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after buying an additional 29,006 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at approximately $948,000. Harbor Capital Advisors Inc. boosted its stake in shares of Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 111,392 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in Alexander & Baldwin by 2.9% in the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after acquiring an additional 72,240 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

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.