Private Management Group Inc. Reduces Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Private Management Group Inc. lessened its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,095 shares of the financial services provider’s stock after selling 15,720 shares during the quarter. Private Management Group Inc.’s holdings in Alexander & Baldwin were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after buying an additional 759 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Alexander & Baldwin during the 1st quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Alexander & Baldwin during the 2nd quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alexander & Baldwin during the 1st quarter worth about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALEX shares. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, Alliance Global Partners started coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Performance

ALEX stock opened at $18.75 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.36 billion, a P/E ratio of 30.24 and a beta of 1.26. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The stock’s 50 day simple moving average is $19.11 and its 200 day simple moving average is $17.95.

Alexander & Baldwin 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.