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

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders 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 dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, September 12th.

Alexander & Baldwin has a 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. Research 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 Trading Up 0.8%

Shares of Alexander & Baldwin stock traded up $0.14 during mid-day trading on Thursday, hitting $18.09. The stock had a trading volume of 578,867 shares, compared to its average volume of 435,687. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.32 billion, a P/E ratio of 21.28 and a beta of 1.01. The firm has a 50-day moving average of $17.85 and a two-hundred day moving average of $17.54. Alexander & Baldwin has a 12-month low of $15.70 and a 12-month high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.19. Alexander & Baldwin had a net margin of 27.05% and a return on equity of 6.49%. Sell-side analysts forecast that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Institutional Trading of Alexander & Baldwin

Several hedge funds and other institutional investors have recently made changes to their positions in ALEX. Jones Financial Companies Lllp acquired a new position in shares of Alexander & Baldwin in the first quarter valued at approximately $41,000. Royal Bank of Canada raised its holdings in Alexander & Baldwin by 38.8% in the first quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider's stock valued at $426,000 after acquiring an additional 6,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alexander & Baldwin by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,288 shares of the financial services provider's stock worth $746,000 after purchasing an additional 1,900 shares during the period. Jane Street Group LLC raised its holdings in shares of Alexander & Baldwin by 12.3% during the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alexander & Baldwin by 5.0% in 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 acquiring an additional 24,904 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.

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.

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