Alexander & Baldwin (NYSE:ALEX) Sets New 52-Week Low at $15.53

Alexander & Baldwin, Inc. (NYSE:ALEX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.53 and last traded at $15.59, with a volume of 104662 shares changing hands. The stock had previously closed at $15.68.

Analyst Ratings Changes

ALEX has been the subject of a number of research 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 note on Thursday, March 14th. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Alexander & Baldwin Stock Up 2.1 %

The stock’s fifty day moving average is $16.50 and its 200 day moving average is $16.97. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.17 billion, a P/E ratio of 40.00 and a beta of 1.21.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.2225 per share. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Thursday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 222.50%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALEX. Norges Bank bought a new position in Alexander & Baldwin in the 4th quarter worth $11,959,000. Goldman Sachs Group Inc. raised its holdings in Alexander & Baldwin by 196.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 794,748 shares of the financial services provider’s stock worth $14,266,000 after purchasing an additional 526,872 shares in the last quarter. State Street Corp raised its holdings in Alexander & Baldwin by 14.5% in the 1st quarter. State Street Corp now owns 4,026,802 shares of the financial services provider’s stock worth $94,133,000 after purchasing an additional 508,580 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Alexander & Baldwin in the 1st quarter worth $7,731,000. Finally, Clearbridge Investments LLC raised its holdings in Alexander & Baldwin by 244.6% in the 4th quarter. Clearbridge Investments LLC now owns 500,998 shares of the financial services provider’s stock worth $9,529,000 after purchasing an additional 355,601 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.