Alexander & Baldwin, Inc. (NYSE:ALEX) to Issue Quarterly Dividend of $0.22

Alexander & Baldwin, Inc. (NYSE:ALEX) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.222 per share by the financial services provider on Monday, July 8th. This represents a $0.89 annualized dividend and a yield of 5.41%. The ex-dividend date is Friday, June 14th.

Alexander & Baldwin has raised its dividend payment by an average of 37.4% annually over the last three years and has increased its dividend every year for the last 3 years. Alexander & Baldwin has a dividend payout ratio of 134.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Trading Up 3.7 %

NYSE:ALEX traded up $0.59 during trading hours on Friday, hitting $16.42. 15,307 shares of the company were exchanged, compared to its average volume of 310,457. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 39.58 and a beta of 1.21. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. Alexander & Baldwin has a one year low of $15.53 and a one year high of $19.99. The company has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $16.97.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Piper Sandler lowered their price objective on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.50.

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.