Pekin Hardy Strauss Inc. Sells 13,706 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Pekin Hardy Strauss Inc. trimmed its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,486 shares of the financial services provider’s stock after selling 13,706 shares during the quarter. Pekin Hardy Strauss Inc. owned 0.44% of Alexander & Baldwin worth $6,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALEX. ProShare Advisors LLC raised its holdings in shares of Alexander & Baldwin by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,001 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Alexander & Baldwin by 56.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,437 shares of the financial services provider’s stock worth $534,000 after buying an additional 11,730 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Alexander & Baldwin by 0.6% during the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after buying an additional 71,797 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Alexander & Baldwin by 7.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 88,033 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 5,908 shares during the period. Finally, LRI Investments LLC bought a new stake in Alexander & Baldwin during the 1st quarter valued at $129,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.2 %

Alexander & Baldwin stock opened at $19.36 on Friday. The business has a fifty day moving average price of $19.08 and a 200-day moving average price of $18.27. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.23 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Analysts Set New Price Targets

ALEX has been the subject of several recent research reports. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

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.