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ALEX

Alexander & Baldwin NYSE:ALEX Stock Report

Last Price

US$17.95

Market Cap

US$1.3b

7D

-0.2%

1Y

-4.0%

Updated

30 Jun, 2022

Data

Company Financials +
ALEX fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance3/6
Financial Health3/6
Dividends4/6

ALEX Stock Overview

Alexander & Baldwin, Inc. ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state.

Alexander & Baldwin Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Alexander & Baldwin
Historical stock prices
Current Share PriceUS$17.95
52 Week HighUS$26.57
52 Week LowUS$17.43
Beta1.27
1 Month Change-12.01%
3 Month Change-23.94%
1 Year Change-4.01%
3 Year Change-22.29%
5 Year Change-55.92%
Change since IPO-31.57%

Recent News & Updates

May 11
With EPS Growth And More, Alexander & Baldwin (NYSE:ALEX) Is Interesting

With EPS Growth And More, Alexander & Baldwin (NYSE:ALEX) Is Interesting

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Shareholder Returns

ALEXUS REITsUS Market
7D-0.2%1.8%1.6%
1Y-4.0%-9.2%-20.8%

Return vs Industry: ALEX exceeded the US REITs industry which returned -9.2% over the past year.

Return vs Market: ALEX exceeded the US Market which returned -20.8% over the past year.

Price Volatility

Is ALEX's price volatile compared to industry and market?
ALEX volatility
ALEX Average Weekly Movement4.2%
REITs Industry Average Movement4.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: ALEX is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ALEX's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1870611Chris Benjaminhttps://www.alexanderbaldwin.com

Alexander & Baldwin, Inc. ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases. These core assets comprise nearly 72% of A&B's total assets.

Alexander & Baldwin Fundamentals Summary

How do Alexander & Baldwin's earnings and revenue compare to its market cap?
ALEX fundamental statistics
Market CapUS$1.30b
Earnings (TTM)US$36.80m
Revenue (TTM)US$412.20m

35.5x

P/E Ratio

3.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ALEX income statement (TTM)
RevenueUS$412.20m
Cost of RevenueUS$266.30m
Gross ProfitUS$145.90m
Other ExpensesUS$109.10m
EarningsUS$36.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.51
Gross Margin35.39%
Net Profit Margin8.93%
Debt/Equity Ratio48.3%

How did ALEX perform over the long term?

See historical performance and comparison

Dividends

4.5%

Current Dividend Yield

73%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ALEX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ALEX?

Other financial metrics that can be useful for relative valuation.

ALEX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.4x
Enterprise Value/EBITDA13.3x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does ALEX's PE Ratio compare to its peers?

ALEX PE Ratio vs Peers
The above table shows the PE ratio for ALEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average78.9x
STAR iStar
198x-99.1%US$1.1b
AHH Armada Hoffler Properties
57.4x-2.4%US$1.1b
AAT American Assets Trust
47.8x11.5%US$2.3b
OLP One Liberty Properties
12.5x-54.7%US$548.9m
ALEX Alexander & Baldwin
35.5x71.7%US$1.3b

Price-To-Earnings vs Peers: ALEX is good value based on its Price-To-Earnings Ratio (35.5x) compared to the peer average (78.9x).


Price to Earnings Ratio vs Industry

How does ALEX's PE Ratio compare vs other companies in the US REITs Industry?

Price-To-Earnings vs Industry: ALEX is expensive based on its Price-To-Earnings Ratio (35.5x) compared to the US REITs industry average (31.4x)


Price to Earnings Ratio vs Fair Ratio

What is ALEX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ALEX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.5x
Fair PE Ratio88.7x

Price-To-Earnings vs Fair Ratio: ALEX is good value based on its Price-To-Earnings Ratio (35.5x) compared to the estimated Fair Price-To-Earnings Ratio (88.7x).


Share Price vs Fair Value

What is the Fair Price of ALEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ALEX ($17.95) is trading below our estimate of fair value ($20.21)

Significantly Below Fair Value: ALEX is trading below fair value, but not by a significant amount.


Price to Earnings Growth Ratio

PEG Ratio: ALEX is good value based on its PEG Ratio (0.5x)


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Future Growth

How is Alexander & Baldwin forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


71.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALEX's forecast earnings growth (71.7% per year) is above the savings rate (1.9%).

Earnings vs Market: ALEX's earnings (71.7% per year) are forecast to grow faster than the US market (13.7% per year).

High Growth Earnings: ALEX's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ALEX's revenue is expected to decline over the next 3 years (-2% per year).

High Growth Revenue: ALEX's revenue is forecast to decline over the next 3 years (-2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ALEX's Return on Equity is forecast to be high in 3 years time


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Past Performance

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

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-28.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ALEX has a large one-off loss of $26.3M impacting its March 31 2022 financial results.

Growing Profit Margin: ALEX's current net profit margins (8.9%) are higher than last year (3.1%).


Past Earnings Growth Analysis

Earnings Trend: ALEX's earnings have declined by 28.8% per year over the past 5 years.

Accelerating Growth: ALEX's earnings growth over the past year (275.5%) exceeds its 5-year average (-28.8% per year).

Earnings vs Industry: ALEX earnings growth over the past year (275.5%) exceeded the REITs industry 69.5%.


Return on Equity

High ROE: ALEX's Return on Equity (3.5%) is considered low.


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Financial Health

How is Alexander & Baldwin's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ALEX's short term assets ($218.6M) exceed its short term liabilities ($111.2M).

Long Term Liabilities: ALEX's short term assets ($218.6M) do not cover its long term liabilities ($665.6M).


Debt to Equity History and Analysis

Debt Level: ALEX's net debt to equity ratio (45.2%) is considered high.

Reducing Debt: ALEX's debt to equity ratio has increased from 45.8% to 48.3% over the past 5 years.

Debt Coverage: ALEX's debt is well covered by operating cash flow (21.3%).

Interest Coverage: ALEX's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.46%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ALEX's dividend (4.46%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: ALEX's dividend (4.46%) is in the top 25% of dividend payers in the US market (4.3%)


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 9 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (73.5%), ALEX's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (52.4%), ALEX's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Chris Benjamin (58 yo)

10yrs

Tenure

US$4,136,553

Compensation

Mr. Christopher J. Benjamin, also known as Chris, has been the President of Alexander & Baldwin, Inc., since June 2012 and has been its Chief Executive Officer since January 1, 2016. Mr. Benjamin served as...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD4.14M) is about average for companies of similar size in the US market ($USD5.57M).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ALEX's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: ALEX's board of directors are considered experienced (6.4 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Alexander & Baldwin, Inc.'s 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
  • Implied Market Cap: US$1.305b
  • Shares outstanding: 72.68m
  • 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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.