Alexander & Baldwin (ALEX) Declares $0.22 Dividend
Alexander & Baldwin said on February 28, 2024 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.89 annualized). Previously, the company paid $0.22 per share.
Shares must be purchased before the ex-div date of March 14, 2024 to qualify for the dividend. Shareholders of record as of March 15, 2024 will receive the payment on April 5, 2024.
At the current share price of $16.67 / share, the stock's dividend yield is 5.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.86%, the lowest has been 2.28%, and the highest has been 5.64%. The standard deviation of yields is 0.85 (n=193).
The current dividend yield is 1.74 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 2.16. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.48%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 464 funds or institutions reporting positions in Alexander & Baldwin. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ALEX is 0.13%, an increase of 0.01%. Total shares owned by institutions increased in the last three months by 0.86% to 74,162K shares. 
The put/call ratio of ALEX is 0.47, indicating a bullish outlook.
Analyst Price Forecast Suggests 22.38% Upside
As of February 24, 2024, the average one-year price target for Alexander & Baldwin is 20.40. The forecasts range from a low of 19.19 to a high of $22.05. The average price target represents an increase of 22.38% from its latest reported closing price of 16.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alexander & Baldwin is 397MM, an increase of 88.11%. The projected annual non-GAAP EPS is 1.03.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,856K shares representing 6.70% ownership of the company. In it's prior filing, the firm reported owning 4,905K shares, representing a decrease of 1.00%. The firm decreased its portfolio allocation in ALEX by 2.66% over the last quarter.
Franklin Resources holds 3,679K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 3,639K shares, representing an increase of 1.09%. The firm decreased its portfolio allocation in ALEX by 76.17% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 2,994K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 3,059K shares, representing a decrease of 2.18%. The firm decreased its portfolio allocation in ALEX by 4.36% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 2,559K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 2,309K shares, representing an increase of 9.74%. The firm increased its portfolio allocation in ALEX by 6.66% over the last quarter.
Reinhart Partners holds 2,464K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 2,268K shares, representing an increase of 7.97%. The firm increased its portfolio allocation in ALEX by 4.64% 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.
Additional reading:
- Defined Contribution Plan Adoption Agreement
- 21.1 Alexander & Baldwin, Inc. Subsidiaries as of February 1, 202
- 99.1 Financial Statements of Kukui`ula Development Company (Hawaii), LLC
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