Alexander & Baldwin (ALEX) Declares $0.22 Dividend

Alexander & Baldwin said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Previously, the company paid $0.22 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 5, 2023.

At the current share price of $18.55 / share, the stock's dividend yield is 4.74%. Looking back five years and taking a sample every week, the average dividend yield has been 3.56%, the lowest has been 1.20%, and the highest has been 5.49%. The standard deviation of yields is 0.74 (n=158).

The current dividend yield is 1.59 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -1.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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What is the Fund Sentiment?

There are 468 funds or institutions reporting positions in Alexander & Baldwin. This is an increase of 1 owner(s) or 0.21% in the last quarter. Average portfolio weight of all funds dedicated to ALEX is 0.16%, an increase of 4.33%. Total shares owned by institutions decreased in the last three months by 1.46% to 73,809K shares. The put/call ratio of ALEX is 0.96, indicating a bullish outlook.

Analyst Price Forecast Suggests 15.47% Upside

As of April 24, 2023, the average one-year price target for Alexander & Baldwin is 21.42. The forecasts range from a low of 21.21 to a high of $22.05. The average price target represents an increase of 15.47% from its latest reported closing price of 18.55.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alexander & Baldwin is 393MM, an increase of 69.22%. The projected annual non-GAAP EPS is 0.79.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 5,376K shares representing 7.41% ownership of the company. In it's prior filing, the firm reported owning 5,329K shares, representing an increase of 0.88%. The firm increased its portfolio allocation in ALEX by 3.68% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,244K shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 3,298K shares, representing a decrease of 1.66%. The firm decreased its portfolio allocation in ALEX by 7.41% over the last quarter.

Franklin Resources holds 3,157K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 2,717K shares, representing an increase of 13.94%. The firm increased its portfolio allocation in ALEX by 25.20% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,211K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 2,168K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in ALEX by 6.39% over the last quarter.

FRVLX - Franklin Small Cap Value Fund holds 2,205K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 2,148K shares, representing an increase of 2.61%. The firm decreased its portfolio allocation in ALEX by 1.26% over the last quarter.

Alexander & Baldwin Background Information
(This description is provided by the company.)

Alexander & Baldwin, Inc. (A&B) is one of Hawai'i's premier commercial real estate companies and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases. These core assets comprise nearly 72% of A&B's total assets. A&B's non-core assets include renewable energy generation facilities, nearly 27,000 acres of agricultural and conservation land and a vertically integrated paving business. A&B is achieving its strategic objective of becoming a Hawai'i-focused commercial real estate company by expanding and strengthening its Hawai'i CRE portfolio and monetizing non-core assets. Over its 150-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries.

This story originally appeared on Fintel.