NYSE:ALEX

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

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. More Details


Snowflake Analysis

Moderate growth potential and slightly overvalued.


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

-3.5%

ALEX

-3.5%

US REITs

-2.4%

US Market


1 Year Return

-52.4%

ALEX

-16.4%

US REITs

18.2%

US Market

Return vs Industry: ALEX underperformed the US REITs industry which returned -15.1% over the past year.

Return vs Market: ALEX underperformed the US Market which returned 19.5% over the past year.


Shareholder returns

ALEXIndustryMarket
7 Day-3.5%-3.5%-2.4%
30 Day10.8%-0.5%4.2%
90 Day-3.5%0.3%6.3%
1 Year-51.5%-52.4%-13.0%-16.4%20.9%18.2%
3 Year-56.8%-73.2%12.8%-0.4%41.2%31.8%
5 Year-47.8%-68.0%37.3%9.7%84.8%63.9%

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

Valuation

Is Alexander & Baldwin undervalued compared to its fair value and its price relative to the market?

3.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ALEX ($11.96) is trading below our estimate of fair value ($12.33)

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


Price To Earnings Ratio

PE vs Industry: ALEX is unprofitable, so we can't compare its PE Ratio to the US 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 (0.8x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

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

98.8%

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 (2.2%).

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 (6% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: ALEX's revenue (6% per year) is forecast to grow slower than 20% 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 (4.7%).


Next Steps

Past Performance

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

-24.2%

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 24.2% 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 (3.3%).


Return on Equity

High ROE: ALEX has a negative Return on Equity (-3.91%), as it is currently unprofitable.


Next Steps

Financial Health

How is Alexander & Baldwin's financial position?


Financial Position Analysis

Short Term Liabilities: ALEX's short term assets ($277.1M) exceed its short term liabilities ($97.5M).

Long Term Liabilities: ALEX's short term assets ($277.1M) do not cover its long term liabilities ($897.9M).


Debt to Equity History and Analysis

Debt Level: ALEX's debt to equity ratio (69.4%) is considered high.

Reducing Debt: ALEX's debt to equity ratio has increased from 49.6% to 69.4% over the past 5 years.

Debt Coverage: ALEX's debt is not well covered by operating cash flow (13.6%).

Interest Coverage: ALEX is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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

5.32%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ALEX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ALEX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ALEX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ALEX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ALEX is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ALEX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Chris Benjamin (57 yo)

4.75yrs

Tenure

US$3,913,066

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 ($USD3.91M) is above average for companies of similar size in the US market ($USD2.82M).

Compensation vs Earnings: Chris's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Christopher Benjamin
President4.75yrsUS$3.91m0.39%
$ 3.4m
Brett Brown
Executive VP & CFO1.42yrsUS$1.20m0.038%
$ 331.8k
Nelson N. Chun
Executive VP & Chief Legal Officer8.33yrsUS$987.93k0.18%
$ 1.6m
Meredith Ching
Executive Vice President of External Affairs13.33yrsUS$979.98k0.15%
$ 1.3m
Lance Parker
Executive VP & Chief Real Estate Officer3yrsUS$1.70m0.024%
$ 210.4k
Jeff Pauker
Senior Vice President of Investments2.75yrsno datano data
Clayton Chun
Senior VP2.75yrsno data0.015%
$ 131.8k
Suzy Hollinger
Vice President of Investor Relations8.75yrsno datano data
Francisco Gutierrez
Senior Vice President of Development2.17yrsno datano data
Kit Millan
Senior Vice President of Asset Management2.75yrsno datano data
Jordan Brant
Senior Vice President of Leasing1.92yrsno datano data
Alyson Nakamura
VP & Corporate Secretaryno datano datano data

2.8yrs

Average Tenure

55yo

Average Age

Experienced Management: ALEX's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Christopher Benjamin
President4.75yrsUS$3.91m0.39%
$ 3.4m
Thomas Lewis
Independent Director3.25yrsUS$153.50k0.014%
$ 120.1k
Douglas Pasquale
Lead Independent Directorno dataUS$200.00k0.11%
$ 944.5k
Eric Yeaman
Independent Chairman of the Board0.083yrUS$155.00k0.041%
$ 351.3k
Diana Laing
Director1.5yrsUS$736.33k0.0052%
$ 44.8k
Michele Saito
Independent Director8.75yrsUS$169.50k0.041%
$ 351.3k
John Leong
Independent Directorno datano datano data

3.3yrs

Average Tenure

62.5yo

Average Age

Experienced Board: ALEX's board of directors are considered experienced (3.3 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


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$865.285m
  • Shares outstanding: 72.35m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALEXNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 2012
ABUDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2012

Biography

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 a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 23:52
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.