Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Update

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 548,400 shares, a growth of 7.5% from the October 31st total of 510,300 shares. Approximately 0.8% of the company's stock are sold short. Based on an average trading volume of 301,500 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On Alexander & Baldwin

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock valued at $29,000 after buying an additional 759 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Alexander & Baldwin in the 2nd quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Alexander & Baldwin by 19.9% during 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 during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 1,338 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALEX has been the topic of several research analyst reports. Piper Sandler reissued an "overweight" rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a "buy" rating and a $22.00 price objective for the company. Finally, StockNews.com raised shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $21.67.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded down $0.28 during midday trading on Tuesday, hitting $19.32. 290,806 shares of the company's stock were exchanged, compared to its average volume of 321,951. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 31.61 and a beta of 1.28. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The firm's 50 day simple moving average is $19.07 and its 200 day simple moving average is $18.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

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.