Alexander & Baldwin (NYSE:ALEX) Lowered to “Hold” at Zacks Investment Research

Alexander & Baldwin (NYSE:ALEX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Alexander & Baldwin, Inc. is a real estate investment trust. It owns, operates and manages retail, industrial and office space primarily in Hawai`i and on the U.S. Mainland. The company also owns grocery/drug-anchored retail centers. Alexander & Baldwin, Inc. is based in HONOLULU, United States. “

Shares of Alexander & Baldwin stock traded down $0.12 during trading on Tuesday, reaching $12.16. The company’s stock had a trading volume of 28,384 shares, compared to its average volume of 467,612. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.71 and a current ratio of 1.71. The business’s fifty day moving average price is $12.03 and its 200-day moving average price is $16.00. The firm has a market cap of $888.69 million, a price-to-earnings ratio of -22.52 and a beta of 1.42. Alexander & Baldwin has a one year low of $8.32 and a one year high of $25.38.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $80.80 million for the quarter. Alexander & Baldwin had a positive return on equity of 1.00% and a negative net margin of 10.14%. Sell-side analysts anticipate that Alexander & Baldwin will post 0.83 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Alexander & Baldwin during the 4th quarter worth $34,000. Tower Research Capital LLC TRC lifted its stake in Alexander & Baldwin by 1,971.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,489 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 5,224 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Alexander & Baldwin by 780.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,302 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,927 shares during the last quarter. Utah Retirement Systems bought a new position in Alexander & Baldwin in the 1st quarter valued at about $114,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Alexander & Baldwin in the 1st quarter valued at about $140,000. 82.90% of the stock is currently owned by institutional investors.

About Alexander & Baldwin

Alexander & Baldwin, Inc is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages approximately 3.5 million square feet of primarily retail and industrial space in Hawai`i, and is a major landowner in the state.

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