Alexander & Baldwin (NYSE:ALEX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other research analysts have also recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Alexander & Baldwin Trading Up 0.4 %

ALEX stock traded up $0.07 during mid-day trading on Thursday, reaching $17.99. 193,765 shares of the stock traded hands, compared to its average volume of 283,996. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The stock has a market capitalization of $1.31 billion, a PE ratio of 29.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The business has a 50-day moving average price of $18.01 and a two-hundred day moving average price of $18.77.

Alexander & Baldwin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin's dividend payout ratio (DPR) is 145.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its position in shares of 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 buying an additional 35,916 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Alexander & Baldwin during the third quarter valued at approximately $1,151,000. Victory Capital Management Inc. boosted its stake in Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider's stock valued at $18,536,000 after acquiring an additional 29,006 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alexander & Baldwin by 1.3% in 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 acquiring an additional 23,441 shares in the last quarter. 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 valued at $4,256,000 after purchasing an additional 111,392 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.