Alexander & Baldwin, Inc. (NYSE:ALEX) Sees Significant Increase in Short Interest

Alexander & Baldwin, Inc. (NYSE:ALEX) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 534,600 shares, a growth of 9.3% from the December 15th total of 489,100 shares. Based on an average daily volume of 331,200 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.8% of the company’s stock are short sold.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX traded down $0.18 during midday trading on Monday, hitting $17.54. 236,906 shares of the company’s stock traded hands, compared to its average volume of 391,280. The firm has a fifty day moving average of $18.52 and a 200 day moving average of $18.75. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.28 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.16%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALEX shares. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently added to or reduced their stakes in ALEX. Inspire Investing LLC boosted its stake in shares of Alexander & Baldwin by 5.1% in the fourth quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 1,096 shares during the period. Janney Montgomery Scott LLC boosted its stake in Alexander & Baldwin by 32.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 39,434 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 9,719 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Alexander & Baldwin by 3.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 228,467 shares of the financial services provider’s stock valued at $4,053,000 after buying an additional 6,775 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,034 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock worth $11,193,000 after buying an additional 140,207 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

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.