Proficio Capital Partners LLC Acquires Shares of 23,736 Alexander & Baldwin, Inc. (NYSE:ALEX)

Proficio Capital Partners LLC bought a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,736 shares of the financial services provider's stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in Alexander & Baldwin by 4.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 39,760 shares of the financial services provider's stock worth $705,000 after acquiring an additional 1,638 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Alexander & Baldwin by 16.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 33,955 shares of the financial services provider's stock worth $602,000 after acquiring an additional 4,752 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Alexander & Baldwin during the fourth quarter worth about $588,000. LDR Capital Management LLC boosted its position in Alexander & Baldwin by 26.7% during the fourth quarter. LDR Capital Management LLC now owns 111,844 shares of the financial services provider's stock worth $1,984,000 after acquiring an additional 23,545 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Alexander & Baldwin by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 352,238 shares of the financial services provider's stock worth $6,249,000 after acquiring an additional 9,901 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

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Analysts Set New Price Targets

ALEX has been the topic of several recent analyst reports. StockNews.com upgraded shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Piper Sandler boosted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Trading Up 0.3 %

Shares of Alexander & Baldwin stock traded up $0.06 on Friday, reaching $17.45. The company had a trading volume of 492,353 shares, compared to its average volume of 330,636. The firm's 50 day moving average price is $17.75 and its two-hundred day moving average price is $18.58. The firm has a market cap of $1.27 billion, a PE ratio of 28.14 and a beta of 1.27. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. The business had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.16%. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin's payout ratio is 107.14%.

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.