Alexander & Baldwin (NYSE:ALEX – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.890-1.000 for the period, compared to the consensus EPS estimate of 1.020. The company issued revenue guidance of -.
Analysts Set New Price Targets
A number of brokerages have recently commented on ALEX. TheStreet downgraded shares of Alexander & Baldwin from a b- rating to a c+ rating in a research report on Wednesday, February 28th. Piper Sandler reduced their price target on Alexander & Baldwin from $19.00 to $17.00 and set a neutral rating for the company in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $18.50.
View Our Latest Stock Analysis on Alexander & Baldwin
Alexander & Baldwin Stock Performance
Alexander & Baldwin Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.2225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. This represents a $0.89 annualized dividend and a dividend yield of 5.62%. Alexander & Baldwin’s payout ratio is presently 222.50%.
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.
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