Alexander & Baldwin, Inc. (NYSE:ALEX) Announces Dividend Increase – $0.23 Per Share

Alexander & Baldwin, Inc. (NYSE:ALEX) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.225 per share by the financial services provider on Monday, April 7th. This represents a $0.90 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22.

Alexander & Baldwin has raised its dividend payment by an average of 10.0% per year over the last three years. Alexander & Baldwin has a dividend payout ratio of 130.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Price Performance

Shares of ALEX traded down $0.11 during trading hours on Thursday, hitting $17.99. 346,054 shares of the company were exchanged, compared to its average volume of 281,967. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.01 and a beta of 1.29. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $17.67 and its 200 day moving average is $18.65.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, equities analysts anticipate that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALEX has been the subject of several research reports. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.