Welcome to our dedicated page for Alexander & Baldwin news (Ticker: ALEX), a resource for investors and traders seeking the latest updates and insights on Alexander & Baldwin stock.
Alexander & Baldwin, Inc. (NYSE: ALEX), headquartered in Honolulu, Hawaii, is an established player in the land and real estate sector with a rich history spanning over 154 years. The company operates primarily through two segments: Commercial Real Estate and Land Operations.
With an impressive portfolio, Alexander & Baldwin owns approximately 88,000 acres of land in Hawaii, including 45 commercial properties in the state and eight on the mainland. Their holdings encompass around 3.9 million square feet of commercial space, which includes retail centers, industrial assets, and office properties. Notably, the company is the largest owner of grocery-anchored neighborhood shopping centers in Hawaii.
The Commercial Real Estate segment focuses on owning and managing retail, industrial spaces, and urban ground leases in Hawaii. This segment is the primary revenue generator for the company. The Land Operations segment manages the company's land and real estate assets, optimizing their use for maximum returns.
The company has been actively involved in key projects and transactions recently. One of the significant milestones includes the sale of Grace Pacific LLC to Nan, Inc., a move that aligns with A&B's strategic focus on commercial real estate. This sale marks the culmination of A&B's simplification strategy, enabling them to concentrate on their core business.
In terms of financial performance, Alexander & Baldwin reported a net income available to common shareholders of $29.7 million for the full year 2023. The company also declared several dividends throughout the year, reflecting its commitment to delivering value to shareholders. The company’s latest strategic initiatives include the development of commercial spaces at the Maui Business Park Phase II, which is set to attract a diverse range of businesses to the area.
Alexander & Baldwin remains dedicated to its mission of owning, operating, and developing high-quality commercial real estate in Hawaii, continuously evolving with the state's economy. Their longstanding presence and substantial portfolio make them a significant entity in Hawaii’s real estate landscape.
The Board of Directors of Alexander & Baldwin (NYSE:ALEX) has approved a second quarter 2023 dividend of $0.22 per share. This dividend will be payable on July 5, 2023, to shareholders recorded as of the close of business on June 16, 2023. A&B, the largest owner of grocery-anchored shopping centers in Hawai'i, focuses exclusively on Hawai'i commercial real estate and owns approximately 3.9 million square feet of commercial space. The company is committed to strengthening its portfolio and monetizing non-core assets to enhance its strategic focus.
Alexander & Baldwin, Inc. (NYSE: ALEX) will announce its first quarter 2023 financial results after market closure on May 4, 2023. A conference call and webcast will follow at 5:00 p.m. ET on the same day, offering insights into the company’s operating and financial performance.
The call will feature key executives, including CEO Chris Benjamin, COO Lance Parker, and CFO Clayton Chun, and will allow for questions from sell-side analysts. Participants are advised to connect five minutes before the start time.
A&B, focusing exclusively on Hawai'i commercial real estate, owns approximately 3.9 million square feet of commercial space and continues to enhance its portfolio by monetizing non-core assets. Detailed earnings documents will be available on A&B's website after the earnings release.
Alexander & Baldwin, Inc. (NYSE:ALEX) will host an Investor Day on March 30, 2023, at 2:00 P.M. EST in Honolulu, Hawai'i. The event aims to connect with institutional investors and financial analysts, featuring insights from A&B's management team. A live webcast of the session will be available at this link. Additionally, a replay and investor presentation slides will be accessible on the company's website for at least 90 days. A&B is recognized as the largest owner of grocery-anchored shopping centers in Hawai'i, managing approximately 3.9 million square feet of commercial space.
Alexander & Baldwin, Inc. (NYSE: ALEX) announced that CEO Chris Benjamin will engage in a roundtable discussion at the Citi 2023 Global Property CEO Conference on March 6, 2023, from 4:20 p.m. to 4:55 p.m. EST. This conference focuses on industry insights and trends in commercial real estate. A live webcast of the discussion can be accessed here, with a replay available twelve hours post-event. Alexander & Baldwin, focused on Hawai'i's commercial real estate, owns 3.9 million square feet of commercial space, highlighting its strategic growth in the sector.
Alexander & Baldwin (ALEX) reported its financial results for Q4 and FY 2022, demonstrating a solid commercial real estate portfolio. CRE portfolio Net Operating Income (NOI) rose by 6.3% to $117.8 million. Total leased occupancy remained strong at 95.0%. However, net income for Q4 was a loss of $71.6 million, impacted by after-tax losses from discontinued operations totaling $87.9 million. For FY 2022, net income was a loss of $50.8 million. The company aims to expand its CRE portfolio and has planned dividends of $0.22 per share for both Q4 2022 and Q1 2023. The outlook for 2023 projects Core FFO per diluted share between $1.08 and $1.13.
Alexander & Baldwin (NYSE: ALEX) announced a leadership transition, appointing Lance K. Parker as the new CEO effective July 1, 2023. He succeeds Christopher J. Benjamin, who will retire on June 30 but will assist during the transition as a consultant until the end of the year. Under Benjamin's leadership, A&B shifted focus to become a premier Hawai'i commercial real estate company. Parker has been with the company since 2004 and played a significant role in this transformation, solidifying A&B's status in the local market.
Alexander & Baldwin, Inc. (NYSE: ALEX) is set to release its fourth quarter and full-year 2022 results on February 28, 2023, after market close. A conference call will follow at 5:00 p.m. ET, featuring a presentation on financial performance and a Q&A session with analysts. The company, a leading real estate investment trust focused on Hawai'i, owns approximately 3.9 million square feet of commercial property and aims to strengthen its portfolio by monetizing non-core assets. Interested parties can access the call via phone or the company’s website.
On January 26, 2023, Alexander & Baldwin (NYSE:ALEX) announced its 2022 dividend distributions for common shares. Shareholders can expect to receive IRS Form 1099-DIV from Computershare, detailing the quarterly dividends paid. The total distribution for the year amounted to $0.830 per share, broken down as follows: $0.190 (March), $0.200 (June), $0.220 (September), and $0.220 (December). The ex-dividend and payable dates for each quarter are also provided. The company encourages investors to seek professional tax advice regarding the tax treatment of these distributions.
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