Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Average Rating of “Buy” from Brokerages

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been given a consensus recommendation of “Buy” by the three brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.67.

A number of research analysts recently issued reports on ALEX shares. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $19.78 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of 31.90 and a beta of 1.26. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The business’s 50 day moving average price is $19.07 and its two-hundred day moving average price is $18.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently made changes to their positions in ALEX. Clearbridge Investments LLC increased its holdings in Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock worth $10,265,000 after purchasing an additional 122,286 shares in the last quarter. Victory Capital Management Inc. raised its position in Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after buying an additional 29,006 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in Alexander & Baldwin during the 2nd quarter valued at $948,000. Harbor Capital Advisors Inc. boosted its holdings in Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after acquiring an additional 111,392 shares during the last quarter. Finally, Reinhart Partners LLC. grew its stake in shares of Alexander & Baldwin by 2.9% in the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after acquiring an additional 72,240 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Alexander & Baldwin

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.