Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Update

Alexander & Baldwin, Inc. (NYSE:ALEX) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 447,800 shares, a growth of 6.6% from the March 31st total of 419,900 shares. Based on an average daily volume of 323,700 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Alexander & Baldwin by 188.4% in the third quarter. SG Americas Securities LLC now owns 43,980 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 28,731 shares during the period. Vert Asset Management LLC grew its stake in shares of Alexander & Baldwin by 9.4% in the third quarter. Vert Asset Management LLC now owns 30,539 shares of the financial services provider’s stock valued at $511,000 after buying an additional 2,622 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of Alexander & Baldwin by 2.8% during the 3rd quarter. Reinhart Partners LLC. now owns 2,267,952 shares of the financial services provider’s stock valued at $37,943,000 after buying an additional 61,852 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Alexander & Baldwin by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,668 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 3,507 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Alexander & Baldwin by 46.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,114 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

ALEX has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.50.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $16.47 on Thursday. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $19.99. The company’s fifty day moving average is $16.30 and its two-hundred day moving average is $16.97. The firm has a market cap of $1.20 billion, a PE ratio of 27.00 and a beta of 1.21. The company has a quick ratio of 0.43, a current ratio of 0.38 and a debt-to-equity ratio of 0.45.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same quarter last year, the firm earned $0.29 earnings per share. Analysts forecast that Alexander & Baldwin will post 1.14 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be given a dividend of $0.222 per share. This represents a $0.89 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

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.