FY2024 Earnings Forecast for Alexander & Baldwin, Inc. Issued By Sidoti Csr (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX) – Sidoti Csr reduced their FY2024 earnings per share estimates for Alexander & Baldwin in a research note issued on Thursday, April 18th. Sidoti Csr analyst B. Mccarthy now expects that the financial services provider will post earnings of $1.03 per share for the year, down from their prior forecast of $1.05. The consensus estimate for Alexander & Baldwin’s current full-year earnings is $1.02 per share.

Several other equities analysts have also weighed in on ALEX. Piper Sandler cut their price target 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. TheStreet downgraded Alexander & Baldwin from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Trading Up 0.8 %

Shares of NYSE:ALEX opened at $15.76 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.14 billion, a PE ratio of 39.40 and a beta of 1.21. The business has a 50 day moving average of $16.52 and a two-hundred day moving average of $16.98. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $19.99.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 5.65%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s payout ratio is presently 222.50%.

Institutional Trading of Alexander & Baldwin

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Alexander & Baldwin in the third quarter valued at $31,000. Tower Research Capital LLC TRC increased its stake in shares of Alexander & Baldwin by 500.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,752 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,460 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Alexander & Baldwin during the 1st quarter worth $41,000. Federated Hermes Inc. grew its holdings in shares of Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,240 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Alexander & Baldwin by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 2,232 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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.