Alexander & Baldwin, Inc. (ALEX) to Issue Quarterly Dividend of $0.23 on April 7th

Alexander & Baldwin, Inc. (NYSE:ALEX) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.225 per share by the financial services provider on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Friday, March 14th. This is a 1.1% increase from Alexander & Baldwin’s previous quarterly dividend of $0.22.

Alexander & Baldwin has raised its dividend payment by an average of 10.0% annually over the last three years. Alexander & Baldwin has a dividend payout ratio of 130.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $18.35 on Wednesday. The company has a fifty day moving average of $17.75 and a two-hundred day moving average of $18.59. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The stock has a market capitalization of $1.33 billion, a PE ratio of 29.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. As a group, research analysts forecast that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler upped their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.