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Alexander & Baldwin

NYSE:ALEX
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ALEX
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Alexander & Baldwin, Inc. is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. The last earnings update was 13 days ago. More info.


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ALEX Share Price and Events
7 Day Returns
-1.6%
NYSE:ALEX
0.2%
US REITs
-3.9%
US Market
1 Year Returns
11%
NYSE:ALEX
13%
US REITs
1.4%
US Market
ALEX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Alexander & Baldwin (ALEX) -1.6% -1.4% -5.2% 11% -31.7% -38.1%
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • ALEX underperformed the REITs industry which returned 13% over the past year.
  • ALEX outperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
ALEX
Industry
5yr Volatility vs Market

Value

 Is Alexander & Baldwin undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Alexander & Baldwin to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Alexander & Baldwin.

NYSE:ALEX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ALEX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (47.51%))
0.82
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.82 * 5.96%)
7.62%

Discounted Cash Flow Calculation for NYSE:ALEX using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Alexander & Baldwin is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Alexander & Baldwin is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:ALEX DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.62%)
2019 63.00 Analyst x1 58.54
2020 75.60 Analyst x1 65.28
2021 78.48 Est @ 3.8% 62.97
2022 81.21 Est @ 3.48% 60.55
2023 83.85 Est @ 3.26% 58.10
2024 86.45 Est @ 3.1% 55.66
2025 89.03 Est @ 2.99% 53.26
2026 91.62 Est @ 2.91% 50.93
2027 94.24 Est @ 2.86% 48.68
2028 96.90 Est @ 2.82% 46.51
Present value of next 10 years cash flows $560.48
NYSE:ALEX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $96.90 × (1 + 2.73%) ÷ (7.62% – 2.73%)
$2,037.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,037.57 ÷ (1 + 7.62%)10
$978.08
NYSE:ALEX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $560.48 + $978.08
$1,538.56
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,538.56 / 72.14
$21.33
NYSE:ALEX Discount to Share Price
Calculation Result
Value per share (USD) From above. $21.33
Current discount Discount to share price of $23.52
= -1 x ($23.52 - $21.33) / $21.33
-10.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Alexander & Baldwin is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Alexander & Baldwin's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Alexander & Baldwin's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ALEX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.51
NYSE:ALEX Share Price ** NYSE (2019-05-15) in USD $23.52
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Alexander & Baldwin.

NYSE:ALEX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ALEX Share Price ÷ EPS (both in USD)

= 23.52 ÷ -1.51

-15.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alexander & Baldwin is loss making, we can't compare its value to the US REITs industry average.
  • Alexander & Baldwin is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Alexander & Baldwin's expected growth come at a high price?
Raw Data
NYSE:ALEX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -15.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
92.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Alexander & Baldwin, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Alexander & Baldwin's assets?
Raw Data
NYSE:ALEX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $16.64
NYSE:ALEX Share Price * NYSE (2019-05-15) in USD $23.52
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:ALEX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ALEX Share Price ÷ Book Value per Share (both in USD)

= 23.52 ÷ 16.64

1.41x

* Primary Listing of Alexander & Baldwin.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alexander & Baldwin is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Alexander & Baldwin's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Alexander & Baldwin has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Alexander & Baldwin expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
92.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Alexander & Baldwin expected to grow at an attractive rate?
  • Alexander & Baldwin's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Alexander & Baldwin's earnings growth is expected to exceed the United States of America market average.
  • Alexander & Baldwin's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ALEX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ALEX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 92.1%
NYSE:ALEX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -18.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ALEX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ALEX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 464 97 53 3
2019-12-31 505 185 45 1
NYSE:ALEX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 662 326 -109
2018-12-31 640 310 -71
2018-09-30 474 82 277
2018-06-30 465 42 269
2018-03-31 449 18 271
2017-12-31 433 -1 228
2017-09-30 437 18 29
2017-06-30 424 65 34
2017-03-31 408 95 33
2016-12-31 407 111 32
2016-09-30 310 62 35
2016-06-30 354 90 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Alexander & Baldwin's earnings are expected to grow significantly at over 20% yearly.
  • Alexander & Baldwin's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ALEX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Alexander & Baldwin Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ALEX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.75 0.83 0.63 3.00
2019-12-31 0.61 0.61 0.61 1.00
NYSE:ALEX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.51
2018-12-31 -1.01
2018-09-30 4.26
2018-06-30 4.55
2018-03-31 5.06
2017-12-31 4.63
2017-09-30 0.59
2017-06-30 0.68
2017-03-31 0.67
2016-12-31 0.66
2016-09-30 0.71
2016-06-30 0.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Alexander & Baldwin will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Alexander & Baldwin's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Alexander & Baldwin has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Alexander & Baldwin performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Alexander & Baldwin's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Alexander & Baldwin does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Alexander & Baldwin's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Alexander & Baldwin's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Alexander & Baldwin's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Alexander & Baldwin Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ALEX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 661.70 -109.00 65.00
2018-12-31 640.30 -71.40 64.20
2018-09-30 473.50 277.00 66.30
2018-06-30 465.40 269.40 71.10
2018-03-31 448.90 270.70 70.70
2017-12-31 432.70 227.70 70.20
2017-09-30 437.20 28.80 64.40
2017-06-30 424.40 33.50 59.10
2017-03-31 407.70 32.90 54.80
2016-12-31 406.70 32.20 56.20
2016-09-30 309.60 34.60 55.50
2016-06-30 354.20 27.90 53.30
2016-03-31 428.40 34.60 56.20
2015-12-31 509.60 56.20 55.30
2015-09-30 646.60 47.50 56.30
2015-06-30 653.90 52.30 55.90
2015-03-31 643.60 51.70 54.10
2014-12-31 458.10 33.70 52.90
2014-09-30 602.70 31.90 51.50
2014-06-30 513.30 18.80 48.90
2014-03-31 429.30 12.30 42.80
2013-12-31 369.50 12.00 41.20
2013-09-30 220.80 0.20 40.20
2013-06-30 245.60 15.90 37.10
2013-03-31 250.90 7.80 38.30
2012-12-31 257.10 6.00 37.70
2012-09-30 282.60 4.10 32.80
2012-06-30 253.10 -8.60 33.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Alexander & Baldwin has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Alexander & Baldwin has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Alexander & Baldwin improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Alexander & Baldwin's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Alexander & Baldwin has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Alexander & Baldwin's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Alexander & Baldwin's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Alexander & Baldwin is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Alexander & Baldwin's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Alexander & Baldwin's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Alexander & Baldwin Company Filings, last reported 1 month ago.

NYSE:ALEX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,213.40 806.00 5.40
2018-12-31 1,216.20 778.60 11.40
2018-09-30 1,356.60 778.90 7.50
2018-06-30 1,338.40 791.40 9.50
2018-03-31 1,333.20 839.50 26.50
2017-12-31 659.10 632.40 68.90
2017-09-30 1,233.90 627.20 13.30
2017-06-30 1,228.40 576.50 11.00
2017-03-31 1,225.30 561.60 15.30
2016-12-31 1,224.00 516.90 2.20
2016-09-30 1,226.40 611.40 5.80
2016-06-30 1,228.60 625.50 6.40
2016-03-31 1,231.50 686.40 3.50
2015-12-31 1,238.70 589.50 1.30
2015-09-30 1,255.60 597.20 4.10
2015-06-30 1,249.00 620.00 2.30
2015-03-31 1,239.00 663.80 3.40
2014-12-31 1,214.80 708.90 2.80
2014-09-30 1,229.60 687.60 9.20
2014-06-30 1,219.00 679.10 6.20
2014-03-31 1,208.80 689.50 5.50
2013-12-31 1,168.70 713.50 3.30
2013-09-30 934.40 614.20 4.10
2013-06-30 927.70 306.60 0.70
2013-03-31 921.10 290.30 1.20
2012-12-31 914.40 235.50 1.10
2012-09-30 905.50 252.10 4.10
2012-06-30 881.30 252.20 2.50
  • Alexander & Baldwin's level of debt (66.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (57% vs 66.4% today).
  • Debt is well covered by operating cash flow (40.4%, greater than 20% of total debt).
  • Alexander & Baldwin is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Alexander & Baldwin's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Alexander & Baldwin has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Alexander & Baldwin's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.81%
Current annual income from Alexander & Baldwin dividends. Estimated to be 2.9% next year.
If you bought $2,000 of Alexander & Baldwin shares you are expected to receive $56 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Alexander & Baldwin's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Alexander & Baldwin's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ALEX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ALEX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.74 3.00
2019-12-31 0.63 3.00
NYSE:ALEX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.660 2.780
2019-02-26 0.580 2.434
2018-11-02 0.000 0.000
2018-11-01 0.000 0.000
2018-08-02 0.000 0.000
2018-05-10 0.000 0.000
2018-05-08 0.000 0.000
2018-03-01 0.280 1.200
2017-07-26 0.280 0.814
2017-04-25 0.280 0.665
2017-01-25 0.280 0.630
2016-10-26 0.280 0.645
2016-07-25 0.240 0.613
2016-04-26 0.240 0.651
2016-01-27 0.240 0.701
2015-10-27 0.240 0.681
2015-07-28 0.200 0.558
2015-04-28 0.200 0.498
2015-01-27 0.200 0.492
2014-10-28 0.200 0.517
2014-07-30 0.160 0.418
2014-04-29 0.160 0.405
2014-01-28 0.160 0.397
2013-10-01 0.160 0.410

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Alexander & Baldwin has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Alexander & Baldwin only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Alexander & Baldwin's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (31.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Alexander & Baldwin's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Alexander & Baldwin afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Alexander & Baldwin has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Alexander & Baldwin's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Benjamin
COMPENSATION $3,479,433
AGE 55
TENURE AS CEO 3.3 years
CEO Bio

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. Mr. Benjamin served as Chief Operating Officer of Alexander & Baldwin, Inc., from June 2012 to January 9, 2016. He served as President of A&B Land Group from September 2011 to June 26, 2012 and A&B Properties, Inc., from September 2011 to September 2015. He served as the Chief Financial Officer, Senior Vice President and Treasurer of A&B Properties Inc., since February 28, 2011. He served as Chief Financial Officer of Alexander & Baldwin Inc. from February 9 2004 to September 1, 2011, served as Senior Vice President since July 1 2005 and Treasurer since May 1, 2006. Mr. Benjamin served as General Manager of Hawaiian Commercial & Sugar Company, division of Alexander & Baldwin, Inc. from March 9, 2009 to March 2011. He served as the Vice President of Corporate Development and Planning of Alexander & Baldwin, Inc., (A&B) from August 2001 to April 24, 2003. He served as Vice President of Alexander & Baldwin, Inc., from April 9 2003 to June 2005. He joined A&B in August 2001 and served as Director of Corporate Development and Planning. Prior to joining A&B, he served as Vice President of ChannelPoint, Inc. Previously, Mr. Benjamin served as Vice President of AmMed International, Inc. He also served in positions with The Queen's Health Systems, with the management consulting firm of Booz-Allen & Hamilton and with Sony Corporation. He was the President of the local chapter of JDRF. He co-chairs a support group for children with diabetes in Hawaii. He has been the Chairman of the Board and Director at Aloha United Way, Inc., since July 2013. He serves as the Chairman of the Board at The Nature Conservancy. He has been a Director of Alexander & Baldwin, Inc., since January 1, 2016. He serves on the International Lay Review Committee of the Juvenile Diabetes Research Foundation (JDRF). He was selected as a Pacific Century Fellow, participating in the program in its inaugural year. Mr. Benjamin graduated from the University of Michigan with a Bachelor degree in Economics and earned a Masters degree in Business Administration from Harvard Business School.

CEO Compensation
  • Chris's compensation has increased whilst company is loss making.
  • Chris's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Alexander & Baldwin management team in years:

2.5
Average Tenure
55
Average Age
  • The tenure for the Alexander & Baldwin management team is about average.
Management Team

Chris Benjamin

TITLE
President
COMPENSATION
$3M
AGE
55
TENURE
3.3 yrs

Nelson N. Chun

TITLE
Executive VP & Chief Legal Officer
COMPENSATION
$881K
AGE
65
TENURE
6.9 yrs

Meredith Ching

TITLE
Executive Vice President of External Affairs
COMPENSATION
$772K
AGE
61
TENURE
11.9 yrs

Lance Parker

TITLE
Executive VP & Chief Real Estate Officer
COMPENSATION
$1M
AGE
44
TENURE
1.6 yrs

Diana Laing

TITLE
Interim Executive VP & Director
COMPENSATION
$598K
AGE
63

Brett Brown

TITLE
Executive VP & CFO
AGE
53

Jeff Pauker

TITLE
Senior Vice President of Investments
TENURE
1.3 yrs

Clayton Chun

TITLE
Senior VP
AGE
39
TENURE
1.3 yrs

Suzy Hollinger

TITLE
Vice President of Investor Relations
TENURE
7.3 yrs

Francisco Gutierrez

TITLE
Senior Vice President of Development
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Alexander & Baldwin board of directors in years:

6.9
Average Tenure
63
Average Age
  • The tenure for the Alexander & Baldwin board of directors is about average.
Board of Directors

Stan Kuriyama

TITLE
Chairman
COMPENSATION
$222K
AGE
64
TENURE
6.9 yrs

Chris Benjamin

TITLE
President
COMPENSATION
$3M
AGE
55
TENURE
3.3 yrs

Diana Laing

TITLE
Interim Executive VP & Director
COMPENSATION
$598K
AGE
63
TENURE
0.1 yrs

Bob Harrison

TITLE
Director
COMPENSATION
$160K
AGE
58
TENURE
7.3 yrs

Michele Saito

TITLE
Director
COMPENSATION
$166K
AGE
58
TENURE
7.3 yrs

Doug Pasquale

TITLE
Lead Director
COMPENSATION
$194K
AGE
63

Eric Yeaman

TITLE
Director
COMPENSATION
$157K
AGE
50
TENURE
6.9 yrs

Wilton Doane

TITLE
Director
COMPENSATION
$157K
AGE
70
TENURE
6.9 yrs

David Hulihee

TITLE
Director
COMPENSATION
$146K
AGE
70
TENURE
5.6 yrs

Tom Lewis

TITLE
Director
COMPENSATION
$154K
AGE
65
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Sep 18 Sell Eric Yeaman Individual 20. Sep 18 20. Sep 18 -1 $23.02 $-20
X
Management checks
We assess Alexander & Baldwin's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Alexander & Baldwin has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Alexander & Baldwin Inc (NYSE:ALEX) Delivered A Better ROE Than Its Industry

Over the last twelve months Alexander & Baldwin has recorded a ROE of 21%. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.21 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Who Just Sold Their Shares In Alexander & Baldwin Inc (NYSE:ALEX)?

Alexander & Baldwin's insiders have divested from. … Generally, insiders selling shares in their own firm sends a bearish signal … A research published in The MIT Press (1998) concluded that stocks following insider selling fell 2.7% compared to the market

Simply Wall St -

How Should You Think About Alexander & Baldwin Inc's (NYSE:ALEX) Risks?

Generally, an investor should consider two types of risk that impact the market value of ALEX. … The first type is company-specific risk, which can be diversified away by investing in other companies to reduce exposure to one particular stock. … The second risk is market-wide, which arises from investing in the stock market.

Simply Wall St -

Is It Too Late To Buy Alexander & Baldwin Inc (NYSE:ALEX)?

Alexander & Baldwin Inc (NYSE:ALEX), a reits company based in United States,. … A question to answer is whether Alexander & Baldwin's current trading price of $21.53 reflective of the actual value of the? … Let’s take a look at Alexander & Baldwin’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What You Must Know About Alexander & Baldwin Inc's (NYSE:ALEX) ROE

View our latest analysis for Alexander & Baldwin What you must know about ROE Return on Equity (ROE) weighs Alexander & Baldwin’s profit against the level of its shareholders’ equity. … For now, let’s just look at the cost of equity number for Alexander & Baldwin, which is 8.49%. … Since Alexander & Baldwin’s return covers its cost in excess of 26.11%, its use of equity capital is efficient and likely to be sustainable.

Simply Wall St -

Why You Shouldn't Look At Alexander & Baldwin Inc's (NYSE:ALEX) Bottom Line

This tells us how long it will take ALEX to pay off its debt using its income from its main business activities, and gives us an insight into ALEX’s ability to service its borrowings. … This would take ALEX 13 years to pay off using just operating income, which is a long time, and risk increases with time. … Next Steps: In this article, I've taken a look at Funds from Operations using various metrics, but it is certainly not sufficient to derive an investment decision based on this value alone.

Simply Wall St -

Should You Invest In The Real Estate Stock Alexander & Baldwin Inc (ALEX)?

Alexander & Baldwin Inc (NYSE:ALEX), a USD$1.41B small-cap, operates in the real estate industry which remains the single largest sector globally, and has continued to play a key role in investor portfolios as an asset class. … Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year , and a strong near-term growth of 16.67% over the next couple of years. … ALEX lags the pack with its negative growth rate of -16.80% over the past year, which indicates the company will be growing at a slower pace than its REIT peers.

Simply Wall St -

What Are Analysts Saying About Alexander & Baldwin Inc's (ALEX) Growth?

Alexander & Baldwin Inc (NYSE:ALEX)’s sound earnings growth per share is expected to be a double-digit 34.77% over the next three years. … This indicates a relatively solid earnings per share growth rate of 34.77% over the next few years, which is an optimistic outlook in the near term. … ALEX’s triple-digit earnings growth the past couple of years indicates that the company's past performance is quite revealing of future outcome.

Simply Wall St -

What Should We Expect From Alexander & Baldwin Inc's (ALEX) Earnings Over The Next Year?

Alexander & Baldwin Inc (NYSE:ALEX) is expected to deliver a solid 34.77% in earnings growth per share over the next three years. … This indicates a relatively solid earnings per share growth rate of 34.77% over the next few years, which is an optimistic outlook in the near term. … NYSE:ALEX Past Future Earnings Oct 26th 17 Is the growth built on solid basis?

Simply Wall St -

Company Info

Description

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 3.5 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.

Details
Name: Alexander & Baldwin, Inc.
ALEX
Exchange: NYSE
Founded: 1870
$1,696,632,840
72,135,750
Website: http://www.alexanderbaldwin.com
Address: Alexander & Baldwin, Inc.
822 Bishop Street,
Post Office Box 3440,
Honolulu,
Hawaii, 96801,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ALEX Common Stock New York Stock Exchange US USD 14. Jun 2012
DB ABU Common Stock Deutsche Boerse AG DE EUR 14. Jun 2012
Number of employees
Current staff
Staff numbers
875
Alexander & Baldwin employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:27
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/03
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.