Alexander & Baldwin (NYSE:ALEX) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Alexander & Baldwin (NYSE:ALEX - Free Report) from a buy rating to a hold rating in a research report released on Tuesday.

Other research analysts have also recently issued reports about the company. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler reissued an "overweight" rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexander & Baldwin has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Alexander & Baldwin Trading Up 0.5 %

Alexander & Baldwin stock traded up $0.09 during trading on Tuesday, hitting $17.86. The company had a trading volume of 116,764 shares, compared to its average volume of 293,281. 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's 50 day simple moving average is $18.21 and its 200-day simple moving average is $18.77. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 28.77 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $0.2225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 4.98%. Alexander & Baldwin's payout ratio is currently 145.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALEX. Jane Street Group LLC grew its holdings in Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider's stock valued at $1,817,000 after purchasing an additional 35,916 shares during the last quarter. HighTower Advisors LLC bought a new position in Alexander & Baldwin during the third quarter valued at about $1,151,000. Victory Capital Management Inc. grew its holdings in shares of Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider's stock worth $18,536,000 after purchasing an additional 29,006 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider's stock valued at $36,032,000 after purchasing an additional 23,441 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider's stock worth $4,256,000 after acquiring an additional 111,392 shares during the period. 91.29% of the stock is currently owned by institutional investors.

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.