Alexander & Baldwin (NYSE:ALEX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a report released on Thursday morning.

Other analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Trading Up 0.8 %

NYSE:ALEX traded up $0.15 during midday trading on Thursday, reaching $19.72. 355,148 shares of the stock traded hands, compared to its average volume of 324,125. The company has a fifty day moving average of $19.09 and a 200 day moving average of $18.03. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30. The stock has a market capitalization of $1.43 billion, a P/E ratio of 31.58 and a beta of 1.26. 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 Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Alexander & Baldwin by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 759 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Alexander & Baldwin in the first quarter worth approximately $32,000. Rothschild Investment LLC purchased a new stake in shares of Alexander & Baldwin in the second quarter worth $35,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Alexander & Baldwin during the 1st quarter valued at $41,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.