Dark Forest Capital Management LP Invests $844,000 in Alexander & Baldwin, Inc. (NYSE:ALEX)

Dark Forest Capital Management LP acquired a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,603 shares of the financial services provider's stock, valued at approximately $844,000. Dark Forest Capital Management LP owned about 0.07% of Alexander & Baldwin as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ALEX. Smartleaf Asset Management LLC lifted its stake in shares of Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,239 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,034 shares during the period. Wealthfront Advisers LLC acquired a new position in Alexander & Baldwin in the 4th quarter valued at about $112,000. XTX Topco Ltd purchased a new stake in Alexander & Baldwin during the fourth quarter worth about $206,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth about $227,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALEX shares. StockNews.com cut shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. Piper Sandler upped their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

Alexander & Baldwin Stock Up 0.5 %

Shares of ALEX traded up $0.09 during midday trading on Tuesday, reaching $16.90. The stock had a trading volume of 143,330 shares, compared to its average volume of 378,396. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 27.23 and a beta of 1.03. The company's fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $17.99. Alexander & Baldwin, Inc. has a 1-year low of $15.70 and a 1-year high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Equities research analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be given a $0.225 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a yield of 5.33%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 105.88%.

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.