Alexander & Baldwin, Inc. (NYSE:ALEX) Increases Dividend to $0.23 Per Share

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.225 per share by the financial services provider on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22.

Alexander & Baldwin has increased its dividend by an average of 10.0% per year over the last three years. Alexander & Baldwin has a dividend payout ratio of 130.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Trading Down 0.8 %

Shares of Alexander & Baldwin stock traded down $0.15 on Monday, hitting $17.96. 674,574 shares of the company traded hands, compared to its average volume of 314,133. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.30 billion, a PE ratio of 28.97 and a beta of 1.29. The stock's 50 day moving average price is $17.69 and its 200-day moving average price is $18.64. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Equities research analysts predict that Alexander & Baldwin will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALEX. StockNews.com lowered shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, Piper Sandler upped their price objective on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.