HighTower Advisors LLC Acquires Shares of 60,019 Alexander & Baldwin, Inc. (NYSE:ALEX)

HighTower Advisors LLC bought a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,019 shares of the financial services provider's stock, valued at approximately $1,151,000. HighTower Advisors LLC owned about 0.08% of Alexander & Baldwin at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 759 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 buying an additional 572 shares during the last quarter. Finally, KBC Group NV raised its position in Alexander & Baldwin by 53.6% during the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock worth $74,000 after acquiring an additional 1,338 shares in the last quarter. Institutional investors own 91.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. Piper Sandler reiterated an "overweight" rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded down $0.21 during mid-day trading on Tuesday, hitting $18.65. 513,715 shares of the company's stock traded hands, compared to its average volume of 323,034. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 30.24 and a beta of 1.27. The firm has a 50 day simple moving average of $19.11 and a two-hundred day simple moving average of $18.59. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.2225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 4.77%. Alexander & Baldwin's dividend payout ratio (DPR) is currently 143.55%.

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.