Alexander & Baldwin Holdings, Inc. (ALEX) To Go Ex-Dividend on September 12th

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.225 per share by the financial services provider on Tuesday, October 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, September 12th.

Alexander & Baldwin has a dividend payout ratio of 126.8% 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 $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Trading Up 2.0%

Shares of NYSE:ALEX opened at $18.41 on Friday. Alexander & Baldwin has a 52-week low of $15.70 and a 52-week high of $20.30. The company has a market capitalization of $1.34 billion, a P/E ratio of 17.20 and a beta of 1.01. The company has a 50-day simple moving average of $17.87 and a 200 day simple moving average of $17.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.31 and a current ratio of 0.31.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Alexander & Baldwin by 81.8% in the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alexander & Baldwin by 5.0% in 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 valued at $9,037,000 after purchasing an additional 24,904 shares during the last quarter. Jane Street Group LLC lifted its stake in Alexander & Baldwin by 12.3% in the 1st quarter. Jane Street Group LLC now owns 171,577 shares of the financial services provider’s stock valued at $2,956,000 after purchasing an additional 18,818 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alexander & Baldwin by 4.6% in the 1st 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 last quarter. Finally, Royal Bank of Canada lifted its position in 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 acquiring an additional 6,906 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.