Alexander & Baldwin (NYSE:ALEX) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler restated their overweight rating on shares of Alexander & Baldwin (NYSE:ALEX) in a research report sent to investors on Friday, Benzinga reports. They currently have a $23.00 price objective on the financial services provider’s stock, up from their previous price objective of $22.00.

Separately, Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $18.74 on Friday. The company has a 50-day simple moving average of $19.14 and a two-hundred day simple moving average of $17.84. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.72 and a beta of 1.26. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently modified their holdings of the company. Isthmus Partners LLC grew its holdings in shares of Alexander & Baldwin by 232.0% in the first quarter. Isthmus Partners LLC now owns 205,212 shares of the financial services provider’s stock worth $3,380,000 after purchasing an additional 143,401 shares during the last quarter. Private Management Group Inc. bought a new position in Alexander & Baldwin in the first quarter worth approximately $2,289,000. Clearbridge Investments LLC raised its position in shares of Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Alexander & Baldwin during the 2nd quarter valued at $1,386,000. Finally, Harbor Capital Advisors Inc. grew its stake in Alexander & Baldwin by 271.9% during the second quarter. Harbor Capital Advisors Inc. now owns 110,300 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 80,642 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other 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.