Cubist Systematic Strategies LLC Lowers Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

Cubist Systematic Strategies LLC lessened its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 84.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,742 shares of the financial services provider's stock after selling 103,920 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Alexander & Baldwin were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of Alexander & Baldwin in the 1st quarter worth approximately $32,000. Rothschild Investment LLC bought a new stake in Alexander & Baldwin in the second quarter worth $35,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alexander & Baldwin in the first quarter worth $41,000. Quarry LP increased 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 valued at $86,000 after acquiring an additional 4,302 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Alexander & Baldwin in the 1st quarter worth about $108,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded down $0.14 during mid-day trading on Monday, reaching $18.53. 184,867 shares of the stock traded hands, compared to its average volume of 328,761. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The business's 50-day moving average is $19.21 and its 200-day moving average is $17.69. 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 stock has a market capitalization of $1.35 billion, a PE ratio of 30.38 and a beta of 1.26.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were issued a $0.2225 dividend. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.80%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 145.90%.

Analyst Ratings Changes

ALEX has been the topic of several recent analyst reports. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a "buy" rating and a $22.00 price objective on the stock. Piper Sandler raised Alexander & Baldwin from a "neutral" rating to an "overweight" rating and upped their price target for the company from $17.00 to $22.00 in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.33.

Alexander & Baldwin Company Profile

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.