Welcome to our dedicated page for Alexander & Baldwin news (Ticker: ALEX), a resource for investors and traders seeking the latest updates and insights on Alexander & Baldwin stock.
Alexander & Baldwin (ALEX) maintains Hawaii's largest portfolio of commercial real estate assets as a focused REIT. This news hub provides investors with essential updates on property operations, financial performance, and strategic initiatives shaping Hawaii's unique real estate market.
Access timely reports on earnings announcements, retail center developments, and land management activities. Our curated collection features press releases about industrial space leasing, office property acquisitions, and updates on legacy assets including the company's historic agricultural holdings.
Key updates cover balance sheet management strategies, sustainability initiatives, and market-specific operational adjustments. Track ALEX's progress in maintaining its position as Hawaii's premier commercial property owner through verified corporate communications.
Bookmark this page for direct access to unfiltered financial disclosures and operational announcements. Check regularly for new developments impacting this REIT's grocery-anchored retail centers, industrial facilities, and strategic land assets across the Hawaiian Islands.
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.
Alexander & Baldwin (NYSE: ALEX), a Hawai'i-based commercial real estate firm, will release its second quarter 2024 financial results on July 25, 2024, after the market closes. The company will host a conference call and webcast the same day at 5:00 p.m. ET, where senior management, including CEO Lance Parker and CFO Clayton Chun, will discuss the company's performance. The conference call can be accessed domestically at 1-800-836-8184 and internationally at 1-646-357-8785. The webcast will be available on the company's website, where earnings documents will also be accessible post-market close.
Alexander & Baldwin (NYSE: ALEX), a prominent Hawai'i-based commercial real estate company, will participate in Nareit's REITweek: 2024 Investor Conference in New York.
The company's management will present an overview of its business and operations, followed by a Q&A session on June 4, 2024, from 2:15 p.m. to 2:45 p.m. Eastern Time.
The live webcast and replay will be accessible online. Investor materials for the conference scheduled from June 3-6, 2024, will be available on Alexander & Baldwin's official website.
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