Alexander & Baldwin, Inc. (NYSE:ALEX) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the four research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.67.

A number of research analysts recently weighed in on ALEX shares. Piper Sandler restated an "overweight" rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday. StockNews.com upgraded shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a "buy" rating and a $22.00 price objective on the stock.

Alexander & Baldwin Trading Up 1.0 %

Alexander & Baldwin stock traded up $0.18 during trading on Monday, hitting $18.92. The company had a trading volume of 278,544 shares, compared to its average volume of 324,345. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 31.02 and a beta of 1.26. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The company's 50 day simple moving average is $19.14 and its 200-day simple moving average is $17.86.

Institutional Investors Weigh In On Alexander & Baldwin

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Alexander & Baldwin by 103.3% in 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 period. Central Pacific Bank Trust Division acquired a new position in Alexander & Baldwin in the 1st quarter valued at $32,000. Rothschild Investment LLC purchased a new position in Alexander & Baldwin during the 2nd quarter worth $35,000. Allspring Global Investments Holdings LLC purchased a new position in Alexander & Baldwin during the 1st quarter worth $41,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alexander & Baldwin by 34.8% in 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. 91.29% of the stock is owned by institutional investors and hedge funds.

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.

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