Here are the 10-K annual reports from Alexander & Baldwin, Inc. (ALEX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow ALEX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ALEX filings page.
Alexander & Baldwin, Inc., a Hawai‘i-focused commercial real estate REIT, reports a 95.6% leased occupancy rate in its roughly four‑million‑square‑foot portfolio of 22 retail centers, 14 industrial assets, four office properties and 145 acres of commercial land as of December 31, 2025.
The company has entered into a Merger Agreement under which it will merge into a subsidiary of a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest, with closing expected in the first quarter of 2026, subject to shareholder approval and other conditions.
A&B emphasizes its strategy of concentrating on Hawai‘i’s high‑barrier market, pursuing accretive acquisitions, redevelopment and ground‑up development, while maintaining moderate leverage and a preference for fixed‑rate, unsecured debt. It also highlights sustainability investments, including 2.5 megawatts of rooftop photovoltaic systems, and a small, locally based workforce of 91 employees.
The filing outlines extensive risks, including potential failure or delay of the Merger, geographic concentration in Hawai‘i, inflation and interest‑rate pressures, tenant and anchor‑store risk, construction and development risk, cybersecurity and climate‑related threats, and the possibility of losing REIT status or facing adverse tax law changes.