ALEX Stock Recent News

Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.28 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to FFO of $0.29 per share a year ago.

HONOLULU , July 25, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, today announced net income available to A&B common shareholders of $9.1 million, or $0.13 per diluted share, and Commercial Real Estate ("CRE") operating profit of $22.6 million for the second quarter of 2024. Q2  2024 Highlights Funds From Operations ("FFO") of $20.6 million, or $0.28 per diluted share / Adjusted FFO of $16.9 million, or $0.23 per diluted share CRE Same-Store Net Operating Income ("NOI") growth of 0.9% / CRE Same-Store NOI growth of 1.7% excluding collections of prior year reserves Leased occupancy as of June 30, 2024, was 93.9% Comparable blended leasing spreads for the improved portfolio were 7.3% Lance Parker, president and chief executive officer, stated: "I am encouraged by our performance during the second quarter.

HONOLULU , July 24, 2024 /PRNewswire/ --  The Board of Directors of Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, approved a third quarter 2024 dividend of $0.2225 ( twenty-two and ¼ cents ) per share. The dividend is payable on October 7, 2024, to shareholders of record as of the close of business on September 20, 2024.

HONOLULU , July 9, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, will report results for the second quarter 2024, after the market closes, on Thursday, July 25, 2024. In connection with this announcement, A&B will host a conference call and webcast on Thursday, July 25, 2024, at 5:00 p.m.

The authority in all things pickle created the summer's must-have pickleball bag with an NYC leather legend NEW YORK , July 9, 2024 /PRNewswire/ -- B&G Foods, in collaboration with Made by Alex, announced today the exciting launch of the B&G ® Pickleball Bag x Made by Alex, a pickleball bag designed for handbag, pickle and pickleball enthusiasts alike. The B&G ® brand, originally known as Bloch & Guggenheimer ® , originated in the streets of New York City in 1889, and its pickles, peppers, relishes, olives, sauerkraut and other specialty items have set the standard for New York taste for more than 135 years.

Alexander & Baldwin is a diversified REIT with heavy retail exposure, exclusively concentrated in Hawaii. An opportunistic land sale boosted Q1 2024 AFFO. Net operating income likewise increased 4.1% Y/Y. Net debt accounts for only 27% of enterprise value - perhaps an amount too low if we are at the bottom of the real estate cycle.

HONOLULU , May 28, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, today announced that its management team will participate in Nareit's REITweek: 2024 Investor Conference in New York. A&B will present an overview of its business and operations, followed by a question and answer session.

With a -4.27% average total return in April, REITs have now seen declines in 3 of the first 4 months of 2024. Micro caps (-2.71%) and small caps (-2.87%) averaged low single digit declines in April, while mid-caps (-5.36%) and large caps (-5.99%) performed even worse. 78.71% of REIT securities had a negative total return in April.

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U.S. equity markets rebounded from their worst weekly decline in a year despite a continued uplift in benchmark interest rates, as a solid start to earnings season counteracted disappointing economic data. Ahead of the Fed's policy meeting in the week ahead, markets were confounded - albeit temporarily - by a "jarring" GDP report that showed a return of "stagflationary" trends. Defying the macro headwinds to post its best week since November, the S&P 500 rallied 2.8% on the week - erasing essentially all of its declines in the prior week.