Cbre Investment Management Listed Real Assets LLC Buys Shares of 94,337 Alexander & Baldwin Holdings, Inc. $ALEX

Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 94,337 shares of the financial services provider’s stock, valued at approximately $1,716,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALEX. Vanguard Group Inc. increased its stake in Alexander & Baldwin by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,771,709 shares of the financial services provider’s stock worth $214,127,000 after buying an additional 126,357 shares during the period. Franklin Resources Inc. boosted its position in Alexander & Baldwin by 33.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock valued at $44,886,000 after buying an additional 626,289 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alexander & Baldwin by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after acquiring an additional 263,483 shares in the last quarter. Millennium Management LLC grew its stake in shares of Alexander & Baldwin by 81.8% in the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock worth $12,715,000 after acquiring an additional 331,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Alexander & Baldwin by 30.3% during the third quarter. Dimensional Fund Advisors LP now owns 691,267 shares of the financial services provider’s stock worth $12,574,000 after acquiring an additional 160,626 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $20.84 on Thursday. The stock has a market cap of $1.52 billion, a P/E ratio of 20.63 and a beta of 0.90. The company has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $18.82. Alexander & Baldwin Holdings, Inc. has a 12-month low of $15.07 and a 12-month high of $21.03. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.50.

Alexander & Baldwin (NYSE:ALEX) last posted its earnings results on Friday, February 27th. The financial services provider reported $0.05 EPS for the quarter. Alexander & Baldwin had a return on equity of 6.43% and a net margin of 31.29%.The firm had revenue of $50.99 million for the quarter. Equities analysts expect that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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