Alexander & Baldwin (NYSE:ALEX) Reaches New 12-Month Low at $15.53

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.53 and last traded at $15.59, with a volume of 104662 shares trading hands. The stock had previously closed at $15.68.

Analyst Ratings Changes

Several research analysts recently commented on the company. TheStreet cut Alexander & Baldwin from a "b-" rating to a "c+" rating in a research report on Wednesday, February 28th. Piper Sandler reduced their price target on Alexander & Baldwin from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.50.

Alexander & Baldwin Stock Performance

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 39.10 and a beta of 1.21. The stock has a 50-day moving average price of $16.52 and a 200-day moving average price of $16.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.69%. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 14th. Alexander & Baldwin's dividend payout ratio (DPR) is presently 222.50%.

Institutional Trading of Alexander & Baldwin

Several hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Alexander & Baldwin during the 4th quarter worth approximately $379,000. Price T Rowe Associates Inc. MD lifted its holdings in Alexander & Baldwin by 11.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,126 shares of the financial services provider's stock worth $345,000 after purchasing an additional 1,815 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in Alexander & Baldwin by 61.7% during the 4th quarter. Employees Retirement System of Texas now owns 131,000 shares of the financial services provider's stock worth $2,492,000 after purchasing an additional 50,000 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings in Alexander & Baldwin by 8.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 11,939 shares of the financial services provider's stock worth $227,000 after purchasing an additional 889 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Alexander & Baldwin by 4.5% during the 4th quarter. Legal & General Group Plc now owns 686,279 shares of the financial services provider's stock worth $13,053,000 after acquiring an additional 29,684 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc NYSE: ALEX (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.