HighTower Advisors LLC Purchases New Shares in Alexander & Baldwin, Inc. (NYSE:ALEX)

HighTower Advisors LLC purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,019 shares of the financial services provider’s stock, valued at approximately $1,151,000.

Several other institutional investors and hedge funds have also modified their holdings of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after purchasing an additional 382,327 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after purchasing an additional 190,357 shares during the period. Harbor Capital Advisors Inc. lifted its position in Alexander & Baldwin by 101.0% during the third 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 during the period. Hantz Financial Services Inc. bought a new stake in Alexander & Baldwin during the second quarter worth about $1,386,000. Finally, Reinhart Partners LLC. lifted its position 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 purchasing an additional 72,240 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALEX shares. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th.

Alexander & Baldwin Stock Up 0.1 %

ALEX stock opened at $18.88 on Tuesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 30.42 and a beta of 1.27. 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, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The firm has a 50-day moving average price of $19.10 and a 200-day moving average price of $18.58.

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a $0.2225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.72%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 143.55%.

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.