Alexander & Baldwin Holdings, Inc. $ALEX Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,505 shares of the financial services provider’s stock after selling 69,689 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Alexander & Baldwin were worth $4,338,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Evelyn Partners Asset Management Ltd acquired a new position in Alexander & Baldwin during the 2nd quarter valued at about $25,000. Jones Financial Companies Lllp bought a new stake in shares of Alexander & Baldwin during the first quarter valued at approximately $41,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Alexander & Baldwin during the second quarter worth approximately $46,000. GAMMA Investing LLC grew its holdings in Alexander & Baldwin by 52.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider’s stock worth $50,000 after buying an additional 942 shares in the last quarter. Finally, Covestor Ltd increased its position in Alexander & Baldwin by 44.2% in the 3rd quarter. Covestor Ltd now owns 3,068 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 941 shares during the period. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Up 0.1%

NYSE ALEX opened at $20.78 on Friday. The firm’s 50 day moving average price is $20.75 and its two-hundred day moving average price is $18.59. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 20.57 and a beta of 0.92. Alexander & Baldwin Holdings, Inc. has a twelve month low of $15.07 and a twelve month high of $21.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, December 19th were issued a $0.35 dividend. The ex-dividend date was Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio is currently 138.61%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Wednesday, December 10th. iA Financial set a $20.85 target price on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Alliance Global Partners cut shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. Finally, Piper Sandler lowered shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.