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

Alexander & Baldwin, Inc. (NYSE:ALEX) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 447,800 shares, a growth of 6.6% from the March 31st total of 419,900 shares. Based on an average trading volume of 323,700 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are sold short.

Institutional Trading of Alexander & Baldwin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alexander & Baldwin during the 1st quarter worth approximately $41,000. Federated Hermes Inc. lifted its position in Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,240 shares during the period. Quadrant Capital Group LLC boosted its stake in Alexander & Baldwin by 171.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock worth $67,000 after buying an additional 2,232 shares in the last quarter. Van ECK Associates Corp increased its holdings in Alexander & Baldwin by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock valued at $193,000 after buying an additional 1,672 shares during the period. Finally, Everett Harris & Co. CA acquired a new position in shares of Alexander & Baldwin in the 4th quarter valued at $195,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALEX. Piper Sandler decreased their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three 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 company has a consensus rating of “Hold” and a consensus target price of $18.50.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $16.47 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.43. Alexander & Baldwin has a one year low of $15.53 and a one year high of $19.99. The company’s fifty day moving average price is $16.30 and its 200 day moving average price is $16.97. The company has a market capitalization of $1.20 billion, a PE ratio of 27.00 and a beta of 1.21.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The firm had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, analysts expect that Alexander & Baldwin will post 1.14 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be issued a $0.222 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

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.