Alexander & Baldwin
Market Cap
US$1.6b
Last Updated
2020/02/23 02:23 UTC
Data Sources
Company Financials +
Executive Summary
Alexander & Baldwin, Inc. is Hawai'i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers.
Rewards
Risk Analysis
Snowflake Analysis
Fair value with moderate growth potential.
Similar Companies
Share Price & News
How has Alexander & Baldwin's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ALEX has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.1%
ALEX
-0.07%
US REITs
-1.1%
US Market
1 Year Return
-8.2%
ALEX
16.0%
US REITs
17.9%
US Market
Return vs Industry: ALEX underperformed the US REITs industry which returned 16% over the past year.
Return vs Market: ALEX underperformed the US Market which returned 17.9% over the past year.
Shareholder returns
| ALEX | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.1% | -0.07% | -1.1% |
| 30 Day | 2.7% | 3.6% | 1.4% |
| 90 Day | 3.3% | 7.8% | 6.9% |
| 1 Year | -5.4%-8.2% | 20.7%16.0% | 20.3%17.9% |
| 3 Year | -21.3%-50.8% | 37.9%20.6% | 47.8%38.3% |
| 5 Year | -10.0%-44.4% | 60.3%27.3% | 71.9%53.0% |
Price Volatility Vs. Market
How volatile is Alexander & Baldwin's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
Introducing Alexander & Baldwin (NYSE:ALEX), The Stock That Slid 51% In The Last Three Years3 weeks ago | Simply Wall St
What Kind Of Shareholders Own Alexander & Baldwin, Inc. (NYSE:ALEX)?1 month ago | Simply Wall St
Is Now An Opportune Moment To Examine Alexander & Baldwin, Inc. (NYSE:ALEX)?Valuation
Is Alexander & Baldwin undervalued compared to its fair value and its price relative to the market?
31.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ALEX ($22.47) is trading below our estimate of fair value ($32.84)
Significantly Below Fair Value: ALEX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ALEX is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: ALEX is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate ALEX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: ALEX is good value based on its PB Ratio (1.4x) compared to the US REITs industry average (2.1x).
Next Steps
Future Growth
How is Alexander & Baldwin forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
94.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ALEX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).
Earnings vs Market: ALEX is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: ALEX's is expected to become profitable in the next 3 years.
Revenue vs Market: ALEX's revenue is expected to decline over the next 3 years (-7.4% per year).
High Growth Revenue: ALEX's revenue is forecast to decline over the next 3 years (-7.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ALEX's Return on Equity is forecast to be low in 3 years time (4.9%).
Next Steps
Past Performance
How has Alexander & Baldwin performed over the past 5 years?
-8.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ALEX is currently unprofitable.
Growing Profit Margin: ALEX is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: ALEX is unprofitable, and losses have increased over the past 5 years at a rate of -8.5% per year.
Accelerating Growth: Unable to compare ALEX's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: ALEX is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (7.6%).
Return on Equity
High ROE: ALEX has a negative Return on Equity (-15.66%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Alexander & Baldwin's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: ALEX has a high level of physical assets or inventory.
Debt Coverage by Assets: ALEX's debt is not covered by short term assets (assets are 0.3x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: ALEX has been profitable on average in the past, therefore cash runway is not a concern.
Forecast Cash Runway: ALEX has been profitable on average in the past, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: ALEX's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if ALEX has a sufficient allowance for bad loans.
Low Risk Liabilities: ALEX reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if ALEX has an acceptable proportion of non-loan assets held.
Low Risk Deposits: ALEX has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if ALEX has an appropriate level of bad loans.
Next Steps
Dividend
What is Alexander & Baldwin's current dividend yield, its reliability and sustainability?
3.38%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: ALEX's dividend (3.38%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: ALEX's dividend (3.38%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: ALEX has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: ALEX's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (9.6%), ALEX's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ALEX's dividends in 3 years are forecast to be thoroughly covered by earnings (1.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Chris Benjamin (56yo)
4.1yrs
Tenure
US$3,479,433
Compensation
Mr. Christopher J. Benjamin, also known as Chris, has been the President of Alexander & Baldwin, Inc., (alternate name Matson, Inc.) since June 2012 and its Chief Executive Officer since January 1, 2016. M ...
CEO Compensation Analysis
Compensation vs Market: Chris's total compensation ($USD3.48M) is about average for companies of similar size in the US market ($USD3.81M).
Compensation vs Earnings: Chris's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.1yrs | US$3.48m | 0.37% $6.1m | |
| Executive VP & Chief Legal Officer | 7.7yrs | US$881.24k | 0.18% $2.9m | |
| Executive Vice President of External Affairs | 12.7yrs | US$771.66k | 0.17% $2.7m | |
| Executive VP & Chief Real Estate Officer | 2.3yrs | US$1.37m | 0.061% $983.0k | |
| Interim Executive VP & Director | 0.8yrs | US$597.86k | no data | |
| Executive VP & CFO | 0.8yrs | no data | no data | |
| Senior Vice President of Investments | 2.1yrs | no data | no data | |
| Senior VP | 2.1yrs | no data | 0.015% $247.6k | |
| Vice President of Investor Relations | 8.1yrs | no data | no data | |
| Senior Vice President of Development | 1.5yrs | no data | no data |
2.3yrs
Average Tenure
56yo
Average Age
Experienced Management: ALEX's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.1yrs | US$3.48m | 0.37% $6.1m | |
| Interim Executive VP & Director | 0.8yrs | US$597.86k | no data | |
| Independent Director | 7.7yrs | US$157.25k | 0.051% $831.0k | |
| Chairman | 7.7yrs | US$221.50k | 0.38% $6.1m | |
| Independent Director | 2.6yrs | US$154.25k | 0.0078% $127.5k | |
| Lead Director | 0yrs | US$193.60k | 0.089% $1.4m | |
| Independent Director | 7.7yrs | US$157.25k | 0.034% $552.7k | |
| Independent Director | 8.1yrs | US$160.25k | 0.036% $589.2k | |
| Independent Director | 8.1yrs | US$165.95k | 0.034% $552.7k |
7.7yrs
Average Tenure
64yo
Average Age
Experienced Board: ALEX's board of directors are considered experienced (7.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.9%.
Top Shareholders
Company Information
Alexander & Baldwin, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Alexander & Baldwin, Inc.
- Ticker: ALEX
- Exchange: NYSE
- Founded: 1870
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: US$1.624b
- Shares outstanding: 72.26m
- Website: https://www.alexanderbaldwin.com
Number of Employees
Location
- Alexander & Baldwin, Inc.
- 822 Bishop Street
- Post Office Box 3440
- Honolulu
- Hawaii
- 96801
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ALEX | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jun 2012 |
| ABU | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jun 2012 |
Biography
Alexander & Baldwin, Inc. is Hawai'i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages approximately 3.9 million square feet of primarily retail and industrial space in Hawai'i, and is a major landowner in the state. A&B's interests extend beyond commercial real estate into renewable energy and land stewardship. A&B is also a construction materials company and paving contractor in Hawai'i. Over its nearly 150-year history, A&B has evolved with the state's economy and played a lead role in the development of the agricultural, transportation, tourism, construction and real estate industries.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/23 02:23 |
| End of Day Share Price | 2020/02/21 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.