Reinhart Partners LLC. Boosts Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Reinhart Partners LLC. grew its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,553,912 shares of the financial services provider's stock after acquiring an additional 72,240 shares during the quarter. Alexander & Baldwin accounts for approximately 1.9% of Reinhart Partners LLC.'s holdings, making the stock its 22nd largest holding. Reinhart Partners LLC. owned 3.52% of Alexander & Baldwin worth $49,035,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock worth $29,000 after acquiring an additional 759 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Alexander & Baldwin by 283.3% in the third quarter. SG Americas Securities LLC now owns 24,003 shares of the financial services provider's stock worth $461,000 after acquiring an additional 17,741 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Alexander & Baldwin by 274.3% during the second quarter. Point72 Asset Management L.P. now owns 6,737 shares of the financial services provider's stock worth $114,000 after purchasing an additional 4,937 shares during the period. Quarry LP lifted its holdings in shares of Alexander & Baldwin by 577.4% during the second quarter. Quarry LP now owns 5,047 shares of the financial services provider's stock worth $86,000 after purchasing an additional 4,302 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Alexander & Baldwin by 10.0% during the second quarter. Algert Global LLC now owns 80,130 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 7,300 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

ALEX stock traded up $0.20 during trading on Friday, hitting $18.67. 156,452 shares of the company traded hands, compared to its average volume of 329,492. The stock's 50-day simple moving average is $19.21 and its 200 day simple moving average is $17.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $1.36 billion, a PE ratio of 30.61 and a beta of 1.26. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were given a dividend of $0.2225 per share. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Friday, September 20th. Alexander & Baldwin's dividend payout ratio (DPR) is currently 145.90%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of a number of research reports. Piper Sandler raised Alexander & Baldwin from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $17.00 to $22.00 in a report on Friday, July 26th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a "buy" rating and a $22.00 target price for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.33.

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.