DigitalBridge Group Inc. Decreases Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

DigitalBridge Group Inc. cut its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALEX. Balyasny Asset Management L.P. purchased a new stake in shares of Alexander & Baldwin in the 4th quarter valued at about $7,722,000. JPMorgan Chase & Co. lifted its stake in Alexander & Baldwin by 51.0% in the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock valued at $15,612,000 after buying an additional 297,044 shares during the last quarter. Norges Bank purchased a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $5,236,000. Bank of America Corp DE boosted its holdings in shares of Alexander & Baldwin by 321.2% in the fourth 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 during the period. Finally, Northern Trust Corp grew its position in shares of Alexander & Baldwin by 23.5% during the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock worth $18,110,000 after acquiring an additional 194,534 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded up $0.15 during trading on Thursday, reaching $17.83. The company had a trading volume of 74,532 shares, compared to its average volume of 389,687. Alexander & Baldwin, Inc. has a fifty-two week low of $15.70 and a fifty-two week 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. The stock's fifty day moving average price is $17.06 and its 200 day moving average price is $17.79. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.75 and a beta of 0.99.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. As a group, equities research analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Piper Sandler increased their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th.

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.