Alexander & Baldwin (NYSE:ALEX) Stock

Alexander & Baldwin

Alexander & Baldwin Inc operates in the real estate sector. It functions through two segments namely Commercial Real Estate and Land Operations. The Commercial Real Estate segment owns and manages retail, industrial spaces and also urban ground leases in Hawaii, thereby accounting for majority of the company's revenue. The Land Operations segment actively manages the company's land and real estate-related assets and makes optimum utilization of these assets. Geographically, the activities are carried out across the United States.

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JMP Securities analyst Mitch Germain maintains Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) from Market Perform to Market Perform.

Analyst Ratings

JMP Securities Maintains Market Perform on Alexander & Baldwinto Market Perform

Piper Sandler analyst Alexander Goldfarb reiterates Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) with a Overweight and raises the price target from $22 to $23.

Price Target

Reiteration

Piper Sandler Reiterates Overweight on Alexander & Baldwin, Raises Price Target to $23

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.21 by 28.57 percent. The company reported quarterly sales of $61.944 million which beat the analyst consensus estimate of $51.483 million by 20.32 percent. This is a 17.99 percent increase over sales of $52.500 million the same period last year.

Earnings Beats

Alexander & Baldwin Q3 2024 GAAP EPS $0.27 Beats $0.21 Estimate, Sales $61.944M Beat $51.483M Estimate

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) raises FY2024 FFO guidance from $0.99-1.08 to $1.05-1.12 vs $1.27 analyst estimate..

Guidance

Alexander & Baldwin Raises FY2024 FFO Guidance from $0.99-1.08 to $1.05-1.12 vs $1.27 Est.

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-24. Here's what investors need to know before the announcement.
Analysts estimate that Alexander &amp; Baldwin will report an earnings per share (EPS) of $0.21. 
The announcement from Alexander &amp; Baldwin is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.02, leading to a 6.32% increase in the share price the following trading session.
Here's a look at Alexander &amp; Baldwin's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.14</td>
<td>0.13</td>
<td>0.27</td>
<td>0.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.16</td>
<td>0.28</td>
<td>0.12</td>
<td>0.16</td>
</tr>
<tr>
<td>Price Change %</td>
<td>6.0%</td>
<td>2.0%</td>
<td>-3.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729717272_0.png" alt="eps graph" />
<h3>Tracking Alexander &amp; Baldwin's Stock Performance</h3>
Shares of Alexander &amp; Baldwin were trading at $18.3 as of October 22. Over the last 52-week period, shares are up 13.97%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Opinions on Alexander &amp; Baldwin</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Alexander &amp; Baldwin.
With 2 analyst ratings, Alexander &amp; Baldwin has a consensus rating of Buy. The average one-year price target is $22.0, indicating a potential 20.22% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of American Assets Trust, Armada Hoffler Properties and Empire State Realty Trust, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for American Assets Trust, with an average 1-year price target of $26.0, suggesting a potential 42.08% upside.</li>
<li>Armada Hoffler Properties received a Buy consensus from analysts, with an average 1-year price target of $12.5, implying a potential 31.69% downside.</li>
<li>Empire State Realty Trust received a Underperform consensus from analysts, with an average 1-year price target of $10.0, implying a potential 45.36% downside.</li>
</ul>
<h3>Peer Metrics Summary</h3>
The peer analysis summary provides a snapshot of key metrics for American Assets Trust, Armada Hoffler Properties and Empire State Realty Trust, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alexander &amp; Baldwin</td>
<td>Buy</td>
<td>-3.90%</td>
<td>$21.36M</td>
<td>0.91%</td>
</tr>
<tr>
<td>American Assets Trust</td>
<td>Neutral</td>
<td>1.07%</td>
<td>$70.54M</td>
<td>1.00%</td>
</tr>
<tr>
<td>Armada Hoffler Properties</td>
<td>Buy</td>
<td>11.33%</td>
<td>$51.26M</td>
<td>0.07%</td>
</tr>
<tr>
<td>Empire State Realty Trust</td>
<td>Underperform</td>
<td>-0.52%</td>
<td>$104.85M</td>
<td>1.70%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Alexander &amp; Baldwin ranks at the bottom for Revenue Growth among its peers. It is in the middle for Gross Profit. The company is at the top for Return on Equity.
<h3>Unveiling the Story Behind Alexander &amp; Baldwin</h3>
Alexander &amp; Baldwin Inc operates in the real estate sector. It functions through two segments namely Commercial Real Estate and Land Operations. The Commercial Real Estate segment owns and manages retail, industrial spaces and also urban ground leases in Hawaii, thereby accounting for majority of the company's revenue. The Land Operations segment actively manages the company's land and real estate-related assets and makes optimum utilization of these assets. Geographically, the activities are carried out across the United States.
<h3>A Deep Dive into Alexander &amp; Baldwin's Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Alexander &amp; Baldwin's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -3.9%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Alexander &amp; Baldwin's net margin excels beyond industry benchmarks, reaching 17.83%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Alexander &amp; Baldwin's ROE excels beyond industry benchmarks, reaching 0.91%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Alexander &amp; Baldwin's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.56% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Alexander &amp; Baldwin's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.47.
<a href="https://www.benzinga.com/quote/ALEX/earnings">To track all earnings releases for Alexander &amp; Baldwin visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Alexander & Baldwin's Upcoming Earnings

Expands Industrial Footprint in Central Oahu
HONOLULU, Sept. 23, 2024 /PRNewswire/ --&nbsp;Alexander &amp; Baldwin, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) ("A&amp;B" or the "Company"), a Hawai'i-based owner, operator, and developer of high-quality commercial real estate, announced it has completed an off-market acquisition of an industrial property in Pearl City, O'ahu for $29.7 million.
The 81,500-square-foot food distribution facility is fully leased to Hansen Distribution Group, a broadline food service subsidiary of C&amp;S Wholesale Grocers, an industry leader in supply chain solutions and wholesale grocery supply in the United States. Its central location on O'ahu provides ease of access to the Daniel K. Inouye International Airport, Honolulu Harbor and Honolulu's urban core.

Alexander & Baldwin Acquires Industrial Property In Pearl City O'ahu For $29.7M

Alliance Global Partners analyst Gaurav Mehta initiates coverage on Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) with a Buy rating and announces Price Target of $22.

Initiation

Alliance Global Partners Initiates Coverage On Alexander & Baldwin with Buy Rating, Announces Price Target of $22

Piper Sandler analyst Alexander Goldfarb upgrades Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) from Neutral to Overweight and raises the price target from $17 to $22.

Upgrades

Piper Sandler Upgrades Alexander & Baldwin to Overweight, Raises Price Target to $22

Alexander & Baldwin Raises FY24 Adjusted FFO Per Share Outlook From $0.89 - $1.00 To $0.99 - $1.08 (Est $1.15)

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.14 by 14.29 percent. This is a 6.67 percent increase over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $51.047 million which beat the analyst consensus estimate of $48.200 million by 5.91 percent. This is a 3.87 percent decrease over sales of $53.100 million the same period last year.

Alexander & Baldwin Q2 2024 GAAP EPS $0.16 Beats $0.14 Estimate, Sales $51.047M Beat $48.200M Estimate

Earnings are crucial for the share price of a stock to appreciate. But often, even good earnings fail to lift a stock if a company's forward guidance is weaker than analysts expect. Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) investors recently found this out as its shares were hit hard following the announcement that while core funds from operations (FFO) matched estimates, Prologis had revised full-year 2024 core FFO lower. Prologis subsequently lost almost 10% within a week.
Investors must also look at forward guidance plus the previous quarter's earnings when assessing stocks for possible purchase or sale. With that in mind, take a look at three real estate investment trusts (REITs) that recently raised full-year 2024 forward guidance from previous levels. 
Alexander &amp; Baldwin Inc. (Hawaii) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) is a Honolulu-based diversified REIT exclusively focused on Hawaii commercial real estate. Alexander &amp; Baldwin owns and operates 22 retail centers, 13 industrial assets and four office properties with 3.9 million square feet. It also has 142 acres of ground-lease assets. Its leased occupancy as of March 31 was 94%. The company has a 154-year history of operation.
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On April 25, Alexander reported its first-quarter 2024 operating results. FFO of $0.35 beat the consensus of $0.26 and topped FFO of $0.29 in the first quarter of 2023. Revenue of $61.2 million beat the estimates of $49.25 million and first-quarter 2023 revenue of $50.4 million.
More significantly, Alexander &amp; Baldwin also raised its full-year 2024 adjusted funds from operations (AFFO) guidance from $0.80-$0.90 to $0.89-$1.00.
Piper Sandler analyst Alexander Goldfarb recently maintained a Neutral rating on Alexander &amp; Baldwin, with a $17 price target. Its recent closing price was $15.83, but it opened about 3% higher the morning following the earnings and guidance call.
Healthpeak Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) is an El Segundo, California-based diversified healthcare REIT that owns and operates private-pay facilities such as life science centers, medical offices and continuing care retirement communities. Although it has properties across the U.S., most are in the San Francisco, San Diego and Boston areas. Healthpeak's initial public offering (IPO) launched in 1985, and the company was added to the S&amp;P 500 in 2008. It owns 774 properties worth over $20 billion.
On March 1, Healthpeak officially merged with Physicians Realty Trust in an all-stock-for-stock transaction. Physicians Realty Trust's PEAK symbol was changed to DOC.
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On April 1, Bank of America Securities analyst Joshua Dennerlein upgraded Healthpeak Properties from Underperform to Buy and raised the price target 38.8% from $18 to $25.
On April 25, Healthpeak reported its first-quarter 2024 operating results. FFO of $0.45 per share was a penny above the consensus estimate and a 7.14% increase over FFO of $0.42 per share in the first quarter of 2023. Revenue of $606.56 million topped the consensus estimate of $588.284 million and was a 15.39% increase over revenue of $525.678 million in the first quarter of 2023.
Healthpeak also announced an increase to its full-year 2024 diluted AFFO guidance from $1.50-$1.56 to $1.53-$1.57.
Investors cheered the news and Healthpeak rose over 2% the morning following its earnings and guidance release.
Rexford Industrial Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>) is a Los Angeles-based industrial REIT with 422 properties totaling 49 million square feet that it owns or manages, primarily in Southern California's high-growth areas. Rexford Industrial is a member of the S&amp;P 400 and was founded in 2001. Rexford's first-quarter occupancy rate was 96.8%.
On April 16, Truist Securities analyst Anthony Hau maintained a Buy rating on Rexford Industrial Realty but lowered the price target from $57 to $53.
On April 17, Rexford Industrial Realty reported its first-quarter 2024 operating results. FFO of $0.58 per share beat the analyst consensus estimate of $0.57. Revenue of $210.99 million missed the consensus estimate of $211.56 million and was a 13.95% improvement over $185.16 million in revenue during the first quarter of 2023.
Unlike its peer Prologis, Rexford raised its full-year 2024 core FFO of $2.27-$2.30 per share to $2.31-$2.34. Although Rexford did not initially benefit much in share price, largely because of the sympathy selling of industrial REITs along with Prologis, it has been climbing higher over the past few days.&nbsp;
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Alexander & Baldwin Raises 2024 AFFO Guidance From $0.80-$0.90 To $0.89-$1.00

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.12 by 133.33 percent. This is a 300 percent increase over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $61.202 million which beat the analyst consensus estimate of $49.067 million by 24.73 percent. This is a 21.43 percent increase over sales of $50.400 million the same period last year.

Alexander & Baldwin Q1 2024 GAAP EPS $0.28 Beats $0.12 Estimate, Sales $61.202M Beat $49.067M Estimate

Piper Sandler analyst Alexander Goldfarb maintains Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) with a Neutral and lowers the price target from $19 to $17.

Piper Sandler Maintains Neutral on Alexander & Baldwin, Lowers Price Target to $17

In 2024, the Company will no longer report Core FFO and will begin to report Adjusted FFO. 
&nbsp;

Alexander & Baldwin Expects 2024 Adjusted FFO Per Share Of $0.80-$0.90; Est $1.15

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) reported quarterly earnings of $0.12 per share which beat the analyst consensus estimate of $0.06 by 100 percent. This is a 45.45 percent decrease over earnings of $0.22 per share from the same period last year. The company reported quarterly sales of $52.90 million which beat the analyst consensus estimate of $49.16 million by 7.62 percent. This is a 25.28 percent decrease over sales of $70.80 million the same period last year.

Alexander & Baldwin Q4 2023 GAAP EPS $0.12 Beats $0.06 Estimate, Sales $52.90M Beat $49.16M Estimate

Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-28. Here's what investors need to know before the announcement.
Analysts estimate that Alexander &amp; Baldwin will report an earnings per share (EPS) of $0.27. 
Alexander &amp; Baldwin bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.16, which was followed by a 2.7% increase in the share price the next day.
Here's a look at Alexander &amp; Baldwin's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.32</td>
<td>0.30</td>
<td></td>
<td>0.20</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.16</td>
<td>0.15</td>
<td>0.07</td>
<td>0.22</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>0.0%</td>
<td>-2.0%</td>
<td>-0.0%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Alexander &amp; Baldwin were trading at $17.01 as of February 26. Over the last 52-week period, shares are down 8.81%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/ALEX/earnings">To track all earnings releases for Alexander &amp; Baldwin visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Alexander & Baldwin's Earnings

Final Phase of Subdivision Provides Unique Commercial Development Opportunities in Kahului, Maui
HONOLULU, Feb. 21, 2024 /PRNewswire/ -- Alexander &amp; Baldwin, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) ("A&amp;B" or "Company"), a&nbsp;Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced a build-to-suit lease and two sales at its Maui Business Park Phase II (MBP II) project in Kahului, Maui.
The first transaction is a build-to-suit industrial lease to develop a Class A, 29,500-square-foot warehouse and distribution facility on two lots totaling 2.4 acres for lease to a national food manufacturer and distributor. The tenant will relocate their existing operations in Central Maui. Completion and occupancy of the facility is expected in the fourth quarter of 2025.
Additionally, the County of Maui initiated the purchase of 12.5 acres in the business park's final phase of horizontal development for $17.4 million, which will close upon subdivision completion. The County plans to construct a new facility for its Department of Transportation, encompassing a bus hub, maintenance facility, and secure fleet storage.
With 21 remaining lots ranging from one-half to five acres, the project's final increment allows for warehousing, distribution, light manufacturing, retail, and office uses. It represents the last opportunity to own or lease commercial space fronting the park's highly trafficked main thoroughfare, Ho'okele Street. A&amp;B has commenced the subdivision process and intends to complete all infrastructure improvements required to deliver finished lots in this final increment by early 2026. Land in this final increment is currently available for build-to-suit, ground lease, and fee purchase as condominium units prior to subdivision completion, allowing users to permit and construct their vertical improvements concurrently with horizontal build-out.
The second sale consists of two of the remaining lots available in the park's initial increments, totaling 1.3 acres, sold to Hamai Appliances, Inc., for $2.4 million earlier this month. This local, family-owned retail business will build a showroom and service center to expand its current operations in Kahului to better serve its Maui clients.
"We are encouraged by the momentum and diversity of leasing and sales activity at Maui Business Park Phase II," said Jeff Pauker, chief investment officer at A&amp;B. "With limited parcels available for industrial and retail use in Central Maui, we're pleased to commence infrastructure work on the Company's final subdivision increment within the park to create additional land inventory for future A&amp;B development or parcel sales."
Pauker continued, "Adding new inventory is an opportunity for users to expand or enter the market through build-to-suit or ground lease opportunities with A&amp;B or as land purchasers, all of which will contribute to the local economy and reinforce our long-standing commitment to the Maui community."
Maui Business Park Phase II is represented by Colliers.&nbsp;

Alexander & Baldwin Announces A Build-To-Suit Lease And Two Sales At Its Maui Business Park Phase II Project In Kahului, Maui

Wednesday marks the last chance for investors to receive the next dividend payout from Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>). 
<h3>What's Happening</h3>
The company announced on Monday that it would pay shareholders a quarterly dividend of 22.25 cents per share. On Thursday, Alexander &amp; Baldwin will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 22.25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own ALEX as of the end of Wednesday's session are eligible to receive the 22.25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on January 08, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Alexander & Baldwin's Ex-Dividend Date Is Thursday, Here's What You Need To Know

Janney Montgomery Scott analyst Robert Stevenson initiates coverage on Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) with a Buy rating and announces Price Target of $20.

Janney Montgomery Scott Initiates Coverage On Alexander & Baldwin with Buy Rating, Announces Price Target of $20

Press Releases

Alexander & Baldwin Announces Second Quarter 2024 Earnings Release and Conference Call Date

Alexander & Baldwin Third Quarter 2024 Dividend Authorized

Alexander & Baldwin, Inc. Reports Second Quarter 2024 Results

Alexander & Baldwin Acquires Industrial Property in Pearl City

Alexander & Baldwin Announces Third Quarter 2024 Earnings Release and Conference Call Date

Alexander & Baldwin Extends Its Revolving Credit Facility

Alexander & Baldwin, Inc. Reports Third Quarter 2024 Results

Alexander & Baldwin Announces Fourth Quarter 2024 Dividend

Alexander & Baldwin Announces Fourth Quarter and Full-Year 2024 Earnings Release and Conference Call Date

Alexander & Baldwin Announces Reporting Information for 2024 Dividend Distributions

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