Alexander & Baldwin (NYSE:ALEX) Earns "Market Perform" Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Alexander & Baldwin (NYSE:ALEX - Free Report) in a report released on Monday,Benzinga reports.

Several other brokerages have also weighed in on ALEX. StockNews.com raised Alexander & Baldwin from a "hold" rating to a "buy" rating in a report on Monday, November 25th. Piper Sandler reiterated an "overweight" rating and issued a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.50.

Alexander & Baldwin Stock Down 1.6 %

ALEX stock traded down $0.28 during midday trading on Monday, hitting $17.42. 282,813 shares of the company's stock were exchanged, compared to its average volume of 268,004. The firm has a 50 day moving average price of $18.85 and a 200-day moving average price of $18.71. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.10 and a beta of 1.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Friday, December 20th. Alexander & Baldwin's payout ratio is 145.16%.

Institutional Investors Weigh In On Alexander & Baldwin

Several large investors have recently made changes to their positions in ALEX. GAMMA Investing LLC grew its holdings in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock worth $29,000 after buying an additional 759 shares in the last quarter. Versant Capital Management Inc raised its stake in 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 acquiring an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $54,000 after acquiring an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of 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 in the last quarter. Finally, KBC Group NV increased its holdings in shares of 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 purchasing an additional 1,338 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

About Alexander & Baldwin

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.