LDR Capital Management LLC Raises Position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX)

LDR Capital Management LLC grew its holdings in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 23.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,534 shares of the financial services provider's stock after acquiring an additional 26,690 shares during the period. Alexander & Baldwin accounts for approximately 2.9% of LDR Capital Management LLC's investment portfolio, making the stock its 17th biggest holding. LDR Capital Management LLC owned approximately 0.19% of Alexander & Baldwin worth $2,387,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. bought a new position in Alexander & Baldwin in the 4th quarter valued at about $7,722,000. JPMorgan Chase & Co. lifted its position in Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock valued at $15,612,000 after acquiring an additional 297,044 shares in the last quarter. Norges Bank bought a new position in Alexander & Baldwin in the 4th quarter valued at about $5,236,000. Bank of America Corp DE lifted its position in Alexander & Baldwin by 321.2% in the 4th quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock valued at $6,302,000 after acquiring an additional 270,907 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Alexander & Baldwin by 23.5% in the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock valued at $18,110,000 after acquiring an additional 194,534 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Down 0.6%

NYSE:ALEX traded down $0.11 on Friday, hitting $17.86. The stock had a trading volume of 814,512 shares, compared to its average volume of 398,215. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $1.30 billion, a P/E ratio of 21.01 and a beta of 1.03. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.70 and a 1 year high of $20.30. The firm's fifty day simple moving average is $17.47 and its two-hundred day simple moving average is $17.61.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 13th will be paid a $0.225 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.90 annualized dividend and a yield of 5.04%. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALEX. Piper Sandler raised their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Wall Street Zen cut shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th.

Alexander & Baldwin Company Profile

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.