Tidal Investments LLC Buys 11,719 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Tidal Investments LLC increased its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 29.0% during the third quarter, HoldingsChannel.com reports. The firm owned 52,195 shares of the financial services provider’s stock after acquiring an additional 11,719 shares during the quarter. Tidal Investments LLC’s holdings in Alexander & Baldwin were worth $1,002,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares in the last quarter. Barclays PLC lifted its position in Alexander & Baldwin by 25.4% in the 3rd quarter. Barclays PLC now owns 251,868 shares of the financial services provider’s stock valued at $4,836,000 after acquiring an additional 51,027 shares in the last quarter. Jane Street Group LLC boosted its stake in Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after purchasing an additional 35,916 shares during the last quarter. State Street Corp increased its holdings in shares of Alexander & Baldwin by 9.4% in the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after purchasing an additional 363,223 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Alexander & Baldwin in the third quarter worth $79,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Performance

ALEX stock opened at $17.76 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a market cap of $1.29 billion, a P/E ratio of 28.65 and a beta of 1.27. The stock’s fifty day moving average price is $19.08 and its 200-day moving average price is $18.60.

Alexander & Baldwin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $0.2225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.01%. Alexander & Baldwin’s payout ratio is 143.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALEX shares. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th.

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.