Alexander & Baldwin, Inc. ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases. These core assets comprise nearly 72% of A&B's total assets. A&B's non-core assets include renewable energy generation facilities, approximately 27,000 acres of agricultural and conservation land and a vertically integrated paving business. A&B is achieving its strategic objective of becoming a Hawai'i-focused commercial real estate company by expanding and strengthening its Hawai'i CRE portfolio and monetizing non-core assets. Over its 150-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler cut their price target on shares of Alexander & Baldwin to $22.00 in a report on Monday, July 4th.
Alexander & Baldwin Price Performance
Alexander & Baldwin stock opened at $19.79 on Thursday. The stock has a market cap of $1.44 billion, a P/E ratio of 54.97 and a beta of 1.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $18.53 and a 200 day moving average price of $20.82. Alexander & Baldwin has a 12-month low of $17.05 and a 12-month high of $26.57.
Alexander & Baldwin (NYSE:ALEX - Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.86) by $0.66. Alexander & Baldwin had a net margin of 6.88% and a return on equity of 2.59%. During the same quarter in the previous year, the company posted $0.25 earnings per share. Sell-side analysts anticipate that Alexander & Baldwin will post 0.96 earnings per share for the current year.
Alexander & Baldwin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 16th. This is a positive change from Alexander & Baldwin's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 4.45%. Alexander & Baldwin's dividend payout ratio is 222.23%.