The most recent Form 13F filing that the State of New Jersey Common Pension Fund D submitted to the Securities and Exchange Commission revealed that during the third quarter of 2018, the fund increased the number of shares of Alexander & Baldwin, Inc. (NYSE: ALEX) that it owned by 11.2%. The stock held by the provider of financial services has increased to a total of 124,765 shares as a result of the company’s purchase of an additional 12,526 shares during the period in question, bringing its total number of shares to a total of 124,765. At the end of the most recent reporting period, the State of New Jersey Common Pension Fund D owned approximately 0.17% of Alexander & Baldwin, valued at approximately $2,069,000 then. This ownership was reported as being held at the end of the most recent reporting period.
Several other hedge funds have implemented recent changes regarding allocating their investments in ALEX. The amount of Alexander & Baldwin stock owned by Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased by 15.0% during the second quarter of this year. The financial services provider, Mitsubishi UFJ Kokusai Asset Management Co. Ltd., currently has 35,043 shares of the company’s stock in its possession. This represents an increase of 4,575 shares, which results in an increase in value of $629,000 compared to the amount of stock it held three months ago. To bring its total investment in Alexander & Baldwin up to approximately $1,751,000, Prelude Capital Management LLC made an additional investment during the second quarter of approximately $1,751,000, bringing the company’s total investment to approximately $1,751,000. The value of SG Americas Securities LLC’s holdings in Alexander & Baldwin increased by 10.8% over the year’s second quarter. SG Americas Securities LLC is now the owner of a total of 101,918 shares held by the financial services provider. These shares have a market value of $1,829,000 due to the recent purchase of an additional 9,903 of the company’s shares during the most recent quarter. In the second quarter, Virtus ETF Advisers LLC made a 20.1% purchase of additional Alexander & Baldwin stock, which increased the percentage of the company’s stock that it owned. After making an additional purchase of 13,157 shares during the most recent quarter, Virtus ETF Advisers LLC now holds a total of 78,603 shares of the stock held by the financial services provider. The value of the company’s stock currently is $1,411,000. During the second quarter, Rock Point Advisors LLC added 1.9% more Alexander & Baldwin stock to its holdings, making this the last and most important point. Rock Point Advisors LLC now has 273,185 shares in the financial services company after purchasing an additional 5,150 shares during the preceding quarter. This brings the total number of shares owned by Rock Point Advisors LLC to 273,185. The current value of these shares, when traded on the market, is $4,904,000. The majority of the shares in the company are owned by institutional investors and hedge funds, which account for 85.56% of the total.
The price of one share of ALEX stock was $19.47 when trading began on Thursday morning. According to the 200-day simple moving average, the price of the stock is currently $18.72, and according to the 50-day simple moving average, the price is currently $19.41. Alexander & Baldwin, Inc.’s share price hit a low of $15.80 over the past year, while it reached a high of $24.15 over the same period. The debt-to-equity ratio comes in at 0.42, whereas the quick and current ratios are both at 0.40. At the moment, the company has a PE ratio that is equal to 54.08, a beta value that is equal to 1.29, and a market value that is equal to $1.41 billion.
The company just recently declared and distributed a quarterly dividend, which was paid out on January 6 of this year. In addition, the company just recently announced and distributed a dividend. On Friday, December 23, owners still possessed their shares and were paid a $0.22 dividend per share. This payment was made to owners who still possessed their shares. The dividend was disbursed to shareholders on December 22. As a final result, there will be a yield of 4.52% and a dividend payment of $0.88 per year. This figure is referred to as the dividend payout ratio (DPR) in financial jargon. Alexander & Baldwin has a DPR of 244.44%.
ALEX has obtained comments from various brokerages regarding their experience with the company. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating. She set a price target of $20.00 on the company in a research note published on Monday, November 14. The research note that initiated StockNews.com’s coverage of Alexander & Baldwin shares was published on the website on October 12 and served as the kickoff for the company’s trading day. They advised their clients to “hold” the stock moving forward.
In addition to being the most successful commercial real estate company in the state, Alexander & Baldwin, Inc. (also known as “A&B”) is also the largest owner of community retail complexes in Hawaii. The majority of these retail complexes have a supermarket as their anchor tenant. A&B is the owner, operator, and manager of more than 3.9 million square feet of commercial space in Hawaii. This includes 154 acres of ground leases, 22 shopping malls, ten industrial sites, and four office buildings. When taken together, these properties comprise approximately 3.9 million square feet.