Alexander & Baldwin, Inc. (ALEX) To Go Ex-Dividend on December 20th

Alexander & Baldwin, Inc. (NYSE:ALEX) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be paid a dividend of 0.2225 per share by the financial services provider on Wednesday, January 8th. This represents a $0.89 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, December 20th.

Alexander & Baldwin has increased its dividend payment by an average of 37.4% per year over the last three years. Alexander & Baldwin has a payout ratio of 141.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Trading Down 1.1 %

Shares of ALEX stock opened at $18.65 on Wednesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 30.07 and a beta of 1.27. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $19.11 and a 200 day moving average price of $18.61. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

Analysts Set New Price Targets

ALEX has been the subject of a number of analyst reports. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th.

Alexander & Baldwin Company Profile

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.