Piper Sandler upgraded shares of Alexander & Baldwin (NYSE:ALEX – Free Report) from a neutral rating to an overweight rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm currently has $22.00 price objective on the financial services provider’s stock, up from their prior price objective of $17.00.
Alexander & Baldwin Stock Performance
NYSE ALEX opened at $19.39 on Friday. 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 current ratio of 0.53 and a quick ratio of 0.38. The stock has a market capitalization of $1.41 billion, a PE ratio of 31.79 and a beta of 1.26. The company’s 50 day simple moving average is $17.05 and its two-hundred day simple moving average is $16.86.
Alexander & Baldwin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be paid a $0.2225 dividend. The ex-dividend date is Friday, September 20th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 4.59%. Alexander & Baldwin’s dividend payout ratio is currently 145.90%.
Institutional Trading of Alexander & Baldwin
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.
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