Alexander & Baldwin, Inc. (NYSE:ALEX) Plans Dividend Increase – $0.23 Per Share

Alexander & Baldwin, Inc. (NYSE:ALEX) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.225 per share by the financial services provider on Monday, April 7th. This represents a $0.90 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22.

Alexander & Baldwin has raised its dividend by an average of 10.0% annually over the last three years. Alexander & Baldwin has a dividend payout ratio of 130.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Trading Down 0.6 %

ALEX traded down $0.11 during trading on Thursday, hitting $17.99. The company’s stock had a trading volume of 346,054 shares, compared to its average volume of 281,967. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $17.67 and its 200-day moving average price is $18.65. The firm has a market capitalization of $1.31 billion, a P/E ratio of 29.01 and a beta of 1.29.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Analysts anticipate that Alexander & Baldwin will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALEX shares. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.