DigitalBridge Group Inc. Sells 169,100 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

DigitalBridge Group Inc. lessened its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 60.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,191 shares of the financial services provider's stock after selling 169,100 shares during the period. DigitalBridge Group Inc. owned about 0.15% of Alexander & Baldwin worth $1,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALEX. Smartleaf Asset Management LLC grew its position in 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 worth $29,000 after purchasing an additional 1,239 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in Alexander & Baldwin in the 4th quarter worth about $112,000. XTX Topco Ltd bought a new stake in Alexander & Baldwin in the 4th quarter worth about $206,000. PharVision Advisers LLC bought a new stake in Alexander & Baldwin in the 4th quarter worth about $209,000. Finally, Aigen Investment Management LP bought a new stake in Alexander & Baldwin in the 4th quarter worth about $227,000. Institutional investors and hedge funds own 91.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Wall Street Zen downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock traded up $0.34 on Tuesday, hitting $17.65. 277,859 shares of the company traded hands, compared to its average volume of 390,589. The firm's 50-day simple moving average is $17.05 and its 200 day simple moving average is $17.79. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.28 billion, a P/E ratio of 28.47 and a beta of 0.99. Alexander & Baldwin, Inc. 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 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. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio (DPR) is presently 105.88%.

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.