Charles Schwab Investment Management Inc. Buys 190,357 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Charles Schwab Investment Management Inc. lifted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 10.7% during the third quarter, Holdings Channel reports. The fund owned 1,970,393 shares of the financial services provider’s stock after acquiring an additional 190,357 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Alexander & Baldwin were worth $37,832,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its holdings 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 valued at $49,035,000 after purchasing an additional 72,240 shares during the last quarter. Victory Capital Management Inc. boosted its holdings 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 during the period. Mesirow Institutional Investment Management Inc. grew its stake in Alexander & Baldwin by 1.7% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 516,368 shares of the financial services provider’s stock valued at $8,758,000 after buying an additional 8,554 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Alexander & Baldwin by 9.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 389,006 shares of the financial services provider’s stock valued at $7,399,000 after buying an additional 34,007 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings 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 acquiring an additional 111,392 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALEX shares. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Alliance Global Partners started coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Down 0.4 %

ALEX stock opened at $19.60 on Tuesday. The business’s 50-day simple moving average is $19.07 and its 200 day simple moving average is $18.41. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a market cap of $1.42 billion, a PE ratio of 31.61 and a beta of 1.26.

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.