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

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 791,800 shares, an increase of 21.2% from the February 28th total of 653,500 shares. Based on an average trading volume of 431,100 shares, the short-interest ratio is presently 1.8 days. Currently, 1.1% of the company's stock are sold short.

Analyst Upgrades and Downgrades

ALEX has been the topic of a number of research analyst reports. StockNews.com downgraded Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler raised their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th.

Institutional Trading of Alexander & Baldwin

Several hedge funds and other institutional investors have recently bought and sold shares of ALEX. Smartleaf Asset Management LLC lifted its stake in shares of Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,239 shares during the period. Versant Capital Management Inc increased its position in shares of Alexander & Baldwin by 90.0% during the fourth 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 during the period. Point72 Asia Singapore Pte. Ltd. lifted 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 purchasing an additional 572 shares during the period. Point72 DIFC Ltd acquired a new stake in Alexander & Baldwin during the third quarter worth $79,000. Finally, Wealthfront Advisers LLC bought a new stake in Alexander & Baldwin in the 4th quarter valued at $112,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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Alexander & Baldwin Price Performance

Shares of ALEX traded down $0.56 during trading hours on Monday, hitting $15.99. 641,904 shares of the company were exchanged, compared to its average volume of 412,592. The firm has a fifty day simple moving average of $17.70 and a 200-day simple moving average of $18.30. The company has a market capitalization of $1.16 billion, a PE ratio of 25.78 and a beta of 1.03. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $49.68 million. As a group, sell-side analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 5.63%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 107.14%.

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.