State Street Corp Boosts Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

State Street Corp boosted its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,228,089 shares of the financial services provider's stock after purchasing an additional 363,223 shares during the period. State Street Corp owned 5.82% of Alexander & Baldwin worth $82,033,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alexander & Baldwin by 386.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider's stock valued at $9,240,000 after buying an additional 382,327 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider's stock valued at $37,832,000 after purchasing an additional 190,357 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider's stock valued at $4,256,000 after purchasing an additional 111,392 shares during the period. Hantz Financial Services Inc. bought a new position in shares of Alexander & Baldwin during the 2nd quarter worth approximately $1,386,000. Finally, Reinhart Partners LLC. boosted its stake in Alexander & Baldwin by 2.9% in the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider's stock valued at $49,035,000 after buying an additional 72,240 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analysts Forecast Growth

ALEX has been the topic of a number of research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com upgraded Alexander & Baldwin from a "hold" rating to a "buy" rating in a research note on Monday, November 25th.

Alexander & Baldwin Price Performance

Shares of NYSE:ALEX traded down $0.21 on Tuesday, reaching $18.65. The company's stock had a trading volume of 513,715 shares, compared to its average volume of 323,034. The company has a market cap of $1.35 billion, a P/E ratio of 30.24 and a beta of 1.27. The company has a 50-day simple moving average of $19.11 and a 200 day simple moving average of $18.59. 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 Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 4.77%. Alexander & Baldwin's dividend payout ratio is currently 143.55%.

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.