Alexander & Baldwin (NYSE:ALEX) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a neutral rating to an overweight rating in a research note issued to investors on Friday, MarketBeat.com reports. Piper Sandler currently has $22.00 price target on the financial services provider’s stock, up from their prior price target of $17.00.

Alexander & Baldwin Stock Down 0.6 %

ALEX stock opened at $19.39 on Friday. The firm has a 50 day moving average of $17.05 and a 200 day moving average of $16.86. The stock has a market capitalization of $1.41 billion, a PE ratio of 31.79 and a beta of 1.26. The company has a quick ratio of 0.38, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be paid a $0.2225 dividend. The ex-dividend date is Friday, September 20th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a yield of 4.59%. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.90%.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently bought and sold shares of the stock. Regency Capital Management Inc. DE lifted its stake in Alexander & Baldwin by 27.9% during the 4th quarter. Regency Capital Management Inc. DE now owns 322,232 shares of the financial services provider’s stock valued at $6,129,000 after acquiring an additional 70,251 shares during the period. Asset Management One Co. Ltd. lifted its stake in Alexander & Baldwin by 51.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 173,375 shares of the financial services provider’s stock valued at $3,331,000 after acquiring an additional 58,701 shares during the period. International Assets Investment Management LLC acquired a new stake in Alexander & Baldwin during the 4th quarter valued at approximately $2,280,000. CKW Financial Group lifted its stake in Alexander & Baldwin by 588.4% during the 4th quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 13,557 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Alexander & Baldwin during the 4th quarter valued at approximately $211,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.