Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Update

Alexander & Baldwin, Inc. (NYSE:ALEX) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 489,100 shares, a drop of 6.7% from the November 30th total of 524,100 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 318,900 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALEX. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Alexander & Baldwin by 5.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 683 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. Van ECK Associates Corp raised its stake in Alexander & Baldwin by 7.0% during the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 733 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 759 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded up $0.13 during midday trading on Wednesday, hitting $17.74. The company’s stock had a trading volume of 328,059 shares, compared to its average volume of 332,492. The company has a 50-day moving average price of $18.92 and a two-hundred day moving average price of $18.67. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 28.61 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 5.02%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.16%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALEX. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th.

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.