Alexander & Baldwin (NYSE:ALEX) Upgraded to Hold at Zacks Investment Research

Alexander & Baldwin (NYSE:ALEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Alexander & Baldwin, Inc. is a real estate investment trust. It owns, operates and manages retail, industrial and office space primarily in Hawai`i and on the U.S. Mainland. The company also owns grocery/drug-anchored retail centers. Alexander & Baldwin, Inc. is based in HONOLULU, United States. “

Shares of NYSE:ALEX opened at $18.81 on Tuesday. The company’s fifty day moving average is $18.87. The stock has a market capitalization of $1.36 billion, a PE ratio of 1,881.00 and a beta of 1.40. Alexander & Baldwin has a 12-month low of $10.04 and a 12-month high of $20.28. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

Alexander & Baldwin (NYSE:ALEX) last posted its earnings results on Wednesday, April 28th. The financial services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.12. Alexander & Baldwin had a return on equity of 0.89% and a net margin of 3.01%. Sell-side analysts predict that Alexander & Baldwin will post 0.68 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of ALEX. Zeke Capital Advisors LLC bought a new stake in shares of Alexander & Baldwin in the first quarter worth $10,228,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Alexander & Baldwin by 10.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 586,517 shares of the financial services provider’s stock worth $9,848,000 after acquiring an additional 56,698 shares during the period. Citigroup Inc. grew its holdings in shares of Alexander & Baldwin by 10.4% in the fourth quarter. Citigroup Inc. now owns 47,404 shares of the financial services provider’s stock worth $815,000 after acquiring an additional 4,474 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Alexander & Baldwin by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 1,111 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alexander & Baldwin by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 877,791 shares of the financial services provider’s stock worth $15,080,000 after acquiring an additional 16,931 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases.

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