Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Increases By 9.3%

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 534,600 shares, an increase of 9.3% from the December 15th total of 489,100 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 331,200 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Alexander & Baldwin by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 759 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock worth $54,000 after purchasing an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after acquiring an additional 572 shares in the last quarter. Finally, KBC Group NV grew its position in Alexander & Baldwin by 53.6% during the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 1,338 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several research reports. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, StockNews.com downgraded Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Alexander & Baldwin Stock Down 1.0 %

ALEX stock traded down $0.18 during midday trading on Friday, reaching $17.54. 236,906 shares of the company's stock traded hands, compared to its average volume of 391,280. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 28.28 and a beta of 1.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $18.52 and its 200-day moving average price is $18.75.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.2225 per share. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.08%. Alexander & Baldwin's dividend payout ratio (DPR) is currently 145.16%.

About Alexander & Baldwin

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.