Piper Sandler upgraded shares of Alexander & Baldwin (NYSE:ALEX – Free Report) 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
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.
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