Alexander & Baldwin Holdings, Inc. $ALEX Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 14.5% in the 3rd quarter, Holdings Channel reports. The fund owned 283,781 shares of the financial services provider’s stock after acquiring an additional 35,886 shares during the quarter. Public Sector Pension Investment Board’s holdings in Alexander & Baldwin were worth $5,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Alexander & Baldwin during the third quarter worth about $678,000. Pacific Heights Asset Management LLC lifted its position in Alexander & Baldwin by 60.0% in the third quarter. Pacific Heights Asset Management LLC now owns 200,000 shares of the financial services provider’s stock valued at $3,638,000 after purchasing an additional 75,000 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Alexander & Baldwin by 130.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 104,848 shares of the financial services provider’s stock valued at $1,907,000 after purchasing an additional 59,371 shares in the last quarter. Panagora Asset Management Inc. increased its position in Alexander & Baldwin by 68.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 415,452 shares of the financial services provider’s stock worth $7,408,000 after purchasing an additional 169,009 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Alexander & Baldwin by 17.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 594,325 shares of the financial services provider’s stock worth $10,811,000 after buying an additional 87,670 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of analyst reports. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Wednesday, December 10th. iA Financial set a $20.85 target price on Alexander & Baldwin in a report on Wednesday, December 10th. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Tuesday, December 9th. Alliance Global Partners downgraded shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Up 0.1%

Alexander & Baldwin stock opened at $20.78 on Friday. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.07 and a fifty-two week high of $21.03. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.57 and a beta of 0.92. The stock’s fifty day moving average is $20.75 and its two-hundred day moving average is $18.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, December 19th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Friday, December 19th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio is currently 138.61%.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.