Acuitas Investments LLC Has $1.86 Million Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Acuitas Investments LLC decreased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 58.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,862 shares of the financial services provider’s stock after selling 136,117 shares during the quarter. Acuitas Investments LLC owned about 0.13% of Alexander & Baldwin worth $1,861,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in shares of Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,240 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Alexander & Baldwin by 46.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,114 shares in the last quarter. Everett Harris & Co. CA bought a new position in shares of Alexander & Baldwin in the fourth quarter valued at $195,000. Duality Advisers LP bought a new position in Alexander & Baldwin during the fourth quarter worth $199,000. Finally, Cerity Partners LLC bought a new position in Alexander & Baldwin during the fourth quarter worth $211,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Piper Sandler decreased their price objective on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Price Performance

NYSE:ALEX traded up $0.46 during mid-day trading on Friday, reaching $16.29. The stock had a trading volume of 86,427 shares, compared to its average volume of 311,233. The firm has a 50 day moving average price of $16.38 and a two-hundred day moving average price of $16.97. The stock has a market capitalization of $1.18 billion, a P/E ratio of 40.88 and a beta of 1.21. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $19.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43.

Alexander & Baldwin Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be given a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a yield of 5.45%. Alexander & Baldwin’s payout ratio is 222.50%.

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.