Alexander & Baldwin, Inc. to Issue Quarterly Dividend of $0.22 (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.222 per share by the financial services provider on Monday, July 8th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Friday, June 14th.

Alexander & Baldwin has raised its dividend by an average of 37.4% per year over the last three years and has raised its dividend every year for the last 3 years. Alexander & Baldwin has a dividend payout ratio of 134.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Trading Up 2.3 %

Shares of ALEX stock traded up $0.37 during trading hours on Friday, reaching $16.20. 328,269 shares of the stock were exchanged, compared to its average volume of 314,376. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $19.99. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The company's 50-day moving average price is $16.38 and its 200-day moving average price is $16.97. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 40.88 and a beta of 1.21.

Analysts Set New Price Targets

ALEX has been the subject of several research reports. TheStreet cut shares of Alexander & Baldwin from a "b-" rating to a "c+" rating in a research report on Wednesday, February 28th. Piper Sandler lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Alexander & Baldwin has a consensus rating of "Hold" and a consensus price target of $18.50.

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.