Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Quarry LP

Quarry LP lessened its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 38.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,083 shares of the financial services provider’s stock after selling 1,964 shares during the period. Quarry LP’s holdings in Alexander & Baldwin were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alexander & Baldwin by 386.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock valued at $9,240,000 after purchasing an additional 382,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alexander & Baldwin by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after buying an additional 190,357 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Alexander & Baldwin during the second quarter worth about $1,386,000. Finally, Reinhart Partners LLC. increased its position in Alexander & Baldwin by 2.9% in the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock valued at $49,035,000 after acquiring an additional 72,240 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 weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $21.67.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $19.70 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $19.08 and its two-hundred day moving average is $18.50. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The firm has a market capitalization of $1.43 billion, a PE ratio of 31.77 and a beta of 1.28.

Alexander & Baldwin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.2225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.52%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 143.55%.

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.