Alexander & Baldwin Inc Stock Price, News & Analysis

Alexander & Baldwin (NYSE: ALEX) has released its 2024 dividend distribution reporting information for common shares. The company paid quarterly dividends totaling $0.8925 per share throughout 2024, distributed as follows:

- Q1: $0.2225 (payable April 5, 2024)
- Q2: $0.2225 (payable July 8, 2024)
- Q3: $0.2225 (payable October 7, 2024)
- Q4: $0.2250 (payable January 8, 2025)

All distributions were classified as ordinary income, with 100% being non-qualified dividends. Shareholders will receive Form 1099-DIV from Computershare or their brokers for tax reporting purposes.

Alexander & Baldwin (NYSE: ALEX), a Hawai'i-based commercial real estate company, has scheduled its fourth quarter and full-year 2024 earnings release for Thursday, February 27, 2025, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day.

The event will feature discussions on quarterly and annual operating and financial performance, followed by a Q&A session with sell-side research analysts. Lance Parker, president and CEO, and Clayton Chun, executive vice president, CFO and treasurer, along with other senior management members will participate.

Investors can access the call via phone (Domestic: 1-800-836-8184; International: 1-646-357-8785) or webcast at https://app.webinar.net/1pBdPKEQRZL. Earnings documents will be available on the company's investor website after market close on February 27.

Alexander & Baldwin (NYSE: ALEX) announced that its Board of Directors approved an increased fourth quarter 2024 dividend. The dividend has been raised to $0.225 per share from the previous $0.2225 per share. This dividend is payable on January 8, 2025 to shareholders of record as of the close of business on December 20, 2024.

Alexander & Baldwin (NYSE: ALEX) reported strong Q3 2024 results with net income of $19.0 million ($0.26 per diluted share) and Commercial Real Estate operating profit of $22.8 million. The company achieved FFO of $28.2 million ($0.39 per diluted share) and Adjusted FFO of $23.4 million ($0.32 per diluted share). Key highlights include 4.1% CRE Same-Store NOI growth, 94.0% leased occupancy, and 15.3% comparable blending leasing spreads. The company completed the acquisition of an 81,500 square foot food distribution facility and raised its 2024 guidance, with revised FFO guidance of $1.27-$1.35 per diluted share.

Alexander & Baldwin, Inc. (NYSE: ALEX), a Hawai'i-based commercial real estate company, has amended its revolving credit facility. The key changes include:

1. Extended term to October 2028, with two six-month extension options
2. Borrowing capacity of $450 million
3. Interest rate remains at SOFR plus 1.05% based on a leverage-based pricing grid, plus a SOFR adjustment of 0.10%
4. Facility fee unchanged at 0.15% based on a leverage-based pricing grid

The facility's Joint Lead Arrangers and Joint Bookrunners are BofA Securities, Inc., First Hawaiian Bank, KeyBanc Capital Markets Inc., and Wells Fargo Securities, Bank of America N.A. serves as the administrative agent.

Alexander & Baldwin (NYSE: ALEX) has announced its plans to report third quarter 2024 earnings on Thursday, October 24, 2024, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results. The event will feature a presentation on Q3 2024 operating and financial performance, followed by a Q&A session with sell-side research analysts.

Key participants in the call will include Lance Parker, president and CEO, and Clayton Chun, executive VP, CFO, and treasurer. Interested parties can join via phone (Domestic: 1-800-836-8184, International: 1-646-357-8785) or access the webcast online. Earnings documents will be available for download from A&B's investor website after market close on October 24.

Alexander & Baldwin (NYSE: ALEX) has acquired 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 subsidiary of C&S Wholesale Grocers. The property's central location provides easy access to key transportation hubs.

Lance Parker, A&B's president & CEO, stated that this acquisition aligns with the company's strategy to expand its commercial real estate portfolio in Hawai'i, focusing on retail, industrial, and ground lease assets. The investment is expected to be immediately accretive to Funds From Operations (FFO) and allows A&B to reinvest proceeds from asset sales into higher-yielding investments.

Alexander & Baldwin, Inc. (NYSE: ALEX) reported Q2 2024 results with net income of $9.1 million, or $0.13 per diluted share. Commercial Real Estate (CRE) operating profit was $22.6 million. Key highlights include:

- Funds From Operations (FFO) of $20.6 million, or $0.28 per diluted share
- CRE Same-Store Net Operating Income (NOI) growth of 0.9%
- Leased occupancy at 93.9% as of June 30, 2024
- Comparable blended leasing spreads of 7.3% for the improved portfolio

The company raised its 2024 guidance, projecting CRE Same-Store NOI growth of 1.25% to 2.25% and FFO per diluted share of $1.17 to $1.26. ALEX's balance sheet shows total debt of $469.8 million and a debt-to-total market capitalization of 27.6%.

Alexander & Baldwin (NYSE: ALEX), a Hawai'i-based commercial real estate firm, announced a third quarter 2024 dividend of $0.2225 per share. This dividend is payable on October 7, 2024, to shareholders of record as of September 20, 2024. Alexander & Baldwin, the largest owner of grocery-anchored, neighborhood shopping centers in Hawai'i, manages around 3.9 million square feet of commercial space across 22 retail centers, 13 industrial assets, four office properties, and 142.0 acres of ground lease assets. The company holds a significant presence in Hawai'i's commercial real estate sector, with a history spanning 154 years.