JMP Securities Reiterates Market Perform Rating for Alexander & Baldwin (NYSE:ALEX)

Alexander & Baldwin (NYSE:ALEX)‘s stock had its “market perform” rating reaffirmed by equities researchers at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports.

A number of other equities research analysts have also recently commented on the company. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $17.37 on Monday. 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 company has a market cap of $1.26 billion, a P/E ratio of 28.02 and a beta of 1.29. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The firm has a 50-day moving average of $18.81 and a 200-day moving average of $18.71.

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALEX. Van ECK Associates Corp lifted its holdings in shares of Alexander & Baldwin by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 733 shares during the last quarter. Private Management Group Inc. raised its stake in shares of Alexander & Baldwin by 2.7% during the second quarter. Private Management Group Inc. now owns 142,815 shares of the financial services provider’s stock valued at $2,422,000 after acquiring an additional 3,820 shares during the last quarter. Choreo LLC bought a new stake in shares of Alexander & Baldwin in the second quarter worth about $208,000. American Century Companies Inc. increased its holdings in Alexander & Baldwin by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 2,014 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Alexander & Baldwin during the 2nd quarter valued at approximately $802,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.