Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Up 5.2% in June

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 656,200 shares, a growth of 5.2% from the June 15th total of 623,700 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 286,500 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On Alexander & Baldwin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Alexander & Baldwin during the 1st quarter valued at about $32,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Alexander & Baldwin during the first quarter worth approximately $41,000. Federated Hermes Inc. lifted its holdings in shares of Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,240 shares in the last quarter. Quadrant Capital Group LLC grew its position in Alexander & Baldwin by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,232 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Alexander & Baldwin during the first quarter worth $108,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.1 %

Shares of NYSE ALEX opened at $18.01 on Thursday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.52 and a beta of 1.26. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $19.99. The stock has a 50-day moving average price of $16.79 and a two-hundred day moving average price of $16.87.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The company had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, analysts forecast that Alexander & Baldwin will post 1.15 earnings per share for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 14th were given a $0.222 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.93%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.90%.

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.