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

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,252,766 shares, an increase of 53.5% from the December 15th total of 816,384 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 838,256 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 838,256 shares, the short-interest ratio is currently 1.5 days. Currently, 1.7% of the shares of the company are short sold.

Alexander & Baldwin Stock Performance

NYSE ALEX traded up $0.02 on Friday, reaching $20.85. 743,157 shares of the company’s stock traded hands, compared to its average volume of 654,286. Alexander & Baldwin has a fifty-two week low of $15.07 and a fifty-two week high of $21.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 20.65 and a beta of 0.94. The stock has a 50 day moving average price of $18.59 and a 200-day moving average price of $18.12.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%.The firm had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. Equities research analysts predict that Alexander & Baldwin will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, December 19th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 138.61%.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEX. Royal Bank of Canada lifted its position in shares of Alexander & Baldwin by 38.8% during the first quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 6,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alexander & Baldwin by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,288 shares of the financial services provider’s stock valued at $746,000 after purchasing an additional 1,900 shares during the period. Millennium Management LLC boosted its holdings in Alexander & Baldwin by 81.8% in the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after purchasing an additional 331,969 shares during the period. Jones Financial Companies Lllp acquired a new position in Alexander & Baldwin during the 1st quarter worth $41,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alexander & Baldwin by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,469 shares of the financial services provider’s stock worth $9,037,000 after purchasing an additional 24,904 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ALEX shares. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Wednesday, December 10th. Industrial Alliance Securities set a $20.85 target price on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alexander & Baldwin in a research report on Monday, December 29th. Alliance Global Partners cut shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.