Alexander & Baldwin Inc Stock Price, News & Analysis

On November 12, 2021, Alexander & Baldwin (NYSE:ALEX) completed the sale of its Kukui`ula residential development in Kaua`i to Brue Baukol Capital Partners. A&B, in partnership with DMB Development, had focused on the project since 2002, resulting in a thriving community with over 280 lots sold. The sale aligns with A&B's strategy to concentrate on commercial real estate, allowing for potential expansion in this sector. A&B retains interests in Kaua`i, including the nearby Shops at Kukui`ula retail center.

Alexander & Baldwin (NYSE:ALEX) announced participation in the virtual Nareit's REITworld: 2021 Annual Conference from November 9–11, 2021. Key executives, including Chris Benjamin, Lance Parker, Brett Brown, and Clayton Chun, will represent the company. Investors can access conference materials via the company's website. A&B is Hawaii's largest grocery-anchored shopping center owner, managing approximately 3.9 million square feet of commercial real estate. They focus on expanding their Hawaii portfolio by monetizing non-core assets.

Alexander & Baldwin reported strong third-quarter results for 2021, achieving net income of $6.3 million ($0.09/share), up from $3.0 million in Q3 2020. Funds From Operations (FFO) reached $15.5 million, a 24% increase year-over-year. Commercial real estate revenue rose by 23.2% to $44.0 million, with net operating income (NOI) climbing 30.2% to $28.1 million. The company executed 77 leases and improved occupancy rates across its portfolio. A dividend of $0.18/share was declared, signaling confidence in recovery. The 2021 guidance was revised upward, reflecting a positive market outlook.

On November 1, 2021, Alexander & Baldwin (NYSE: ALEX) announced the promotion of Lance K. Parker to Chief Operating Officer, recognizing his pivotal role in the company's shift towards a focused Hawai'i commercial real estate (CRE) model. Scott G. Morita has also been elevated to Vice President and Corporate Counsel, taking on responsibilities from retiring Chief Legal Officer Nelson Chun. CEO Chris Benjamin highlighted the importance of these promotions in enhancing A&B's real estate operations and preserving collaboration between their legal and CRE teams.

Alexander & Baldwin, Inc. (NYSE:ALEX) will disclose its third-quarter 2021 financial results on November 4, 2021, after market close. A conference call and webcast will follow at 5:00 p.m. ET, featuring key management discussions and a Q&A session with analysts. A&B focuses on Hawai'i commercial real estate, managing approximately 3.9 million square feet of commercial space. The company aims to strengthen its portfolio through the monetization of non-core assets.

Alexander & Baldwin reported a strong second quarter of 2021 with a net income of $12.8 million, up from a net loss of $4.7 million in Q2 2020. The company experienced a 13% increase in Commercial Real Estate (CRE) Net Operating Income and a 20% rise in Core FFO compared to the prior quarter. Significant achievements included the execution of 59 leases and monetization of $19 million from the Kukui'ula joint venture projects. A quarterly dividend of $0.18 per share was announced, reflecting continued confidence in CRE growth. The annual guidance was revised upward for Core FFO and Same-Store NOI.

The Board of Directors of Alexander & Baldwin (NYSE:ALEX) has declared a $0.18 per share dividend for Q3 2021, marking a 12.5% increase from the previous quarter's $0.16. This is the second consecutive quarterly increase, reflecting the Board's confidence in the recovery of the Hawai'i economy and improved commercial real estate performance. The dividend is scheduled for payment on October 4, 2021, for shareholders recorded by the close of business on September 17, 2021.

Alexander & Baldwin, Inc. (NYSE:ALEX) will release its second-quarter earnings on July 29, 2021, following the market close. A conference call will take place the same day at 5:00 p.m. ET, featuring key executives including CEO Chris Benjamin and CFO Brett Brown. The call will provide insights into the company's operating and financial performance, followed by an interactive Q&A session. Investors can access the webcast on the company's website, with presentation slides available post-market close.