Alexander & Baldwin Holdings, Inc. Announces Quarterly Dividend of $0.23 (NYSE:ALEX)

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Shareholders of record on Friday, September 12th will be given a dividend of 0.225 per share by the financial services provider on Tuesday, October 7th. This represents a $0.90 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, September 12th.

Alexander & Baldwin has a dividend payout ratio of 126.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Stock Down 0.8%

Alexander & Baldwin stock traded down $0.14 during mid-day trading on Monday, reaching $18.27. 427,705 shares of the company's stock were exchanged, compared to its average volume of 404,370. The company has a market cap of $1.33 billion, a P/E ratio of 17.07 and a beta of 1.01. Alexander & Baldwin has a twelve month low of $15.70 and a twelve month high of $20.14. The company has a quick ratio of 0.31, a current ratio of 0.20 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $17.87 and a 200-day moving average of $17.56.

Institutional Investors Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of ALEX. Millennium Management LLC raised its stake in Alexander & Baldwin by 81.8% during the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alexander & Baldwin by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,469 shares of the financial services provider's stock worth $9,037,000 after purchasing an additional 24,904 shares during the last quarter. Jane Street Group LLC grew its position in Alexander & Baldwin by 12.3% during the 1st quarter. Jane Street Group LLC now owns 171,577 shares of the financial services provider's stock worth $2,956,000 after purchasing an additional 18,818 shares during the last quarter. Royal Bank of Canada grew its position in Alexander & Baldwin by 38.8% during the 1st quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider's stock worth $426,000 after purchasing an additional 6,906 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Alexander & Baldwin during the 1st quarter worth $41,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.