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

Alexander & Baldwin, Inc. (NYSE:ALEX) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, June 14th will be given 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 dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, June 14th.

Alexander & Baldwin has increased its dividend by an average of 37.4% per year 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 2.9 %

Shares of ALEX stock traded up $0.46 on Friday, hitting $16.29. The company had a trading volume of 101,537 shares, compared to its average volume of 311,515. The firm has a market cap of $1.18 billion, a P/E ratio of 40.88 and a beta of 1.21. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50-day moving average is $16.38 and its two-hundred day moving average is $16.97.

Wall Street Analysts Forecast Growth

ALEX has been the subject of a number of analyst reports. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler decreased their target price on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.