Alexander & Baldwin (NYSE:ALEX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a research report sent to investors on Friday.

ALEX has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Alexander & Baldwin Trading Up 1.2 %

Shares of ALEX traded up $0.22 during trading hours on Friday, hitting $19.30. The stock had a trading volume of 245,151 shares, compared to its average volume of 322,295. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The firm has a market cap of $1.40 billion, a P/E ratio of 31.13 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. The company’s fifty day simple moving average is $19.09 and its 200 day simple moving average is $18.17.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alexander & Baldwin by 386.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after acquiring an additional 382,327 shares in the last quarter. State Street Corp grew its position in shares of Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Alexander & Baldwin by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after buying an additional 190,357 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after acquiring an additional 122,286 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after acquiring an additional 111,392 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Alexander & Baldwin

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.