Short Interest in Alexander & Baldwin, Inc. (NYSE:ALEX) Declines By 6.7%

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 489,100 shares, a drop of 6.7% from the November 30th total of 524,100 shares. Approximately 0.7% of the company's shares are short sold. Based on an average daily volume of 318,900 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALEX. 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 reissued an "overweight" rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th.

Alexander & Baldwin Trading Up 0.7 %

NYSE ALEX traded up $0.13 during trading on Tuesday, hitting $17.74. The company had a trading volume of 328,059 shares, compared to its average volume of 332,492. The company's fifty day moving average is $18.93 and its 200-day moving average is $18.66. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 28.61 and a beta of 1.27. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.02%. Alexander & Baldwin's payout ratio is 145.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALEX. GAMMA Investing LLC grew 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 purchasing an additional 759 shares during the period. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Alexander & Baldwin by 34.8% during 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after acquiring an additional 572 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Alexander & Baldwin by 53.6% in 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 during the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

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.