Alexander & Baldwin Inc - ALEX STOCK NEWS

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.

The Board of Directors of Alexander & Baldwin (NYSE: ALEX) approved a fourth quarter 2022 dividend of $0.22 per share, payable on January 6, 2023. Shareholders of record as of December 23, 2022 will receive this dividend. A&B focuses on Hawai'i commercial real estate, managing approximately 3.9 million square feet of commercial space, including 22 retail centers and 12 industrial assets. The company is continuing to optimize its portfolio by monetizing non-core assets.

Alexander & Baldwin (ALEX) has appointed Lance K. Parker as the new president, effective January 1, 2023. Parker, currently the chief operating officer, has been with the company for 18 years and has played a key role in its transformation into a leading commercial real estate firm in Hawai'i. The CEO, Christopher J. Benjamin, will retain his position. Parker's extensive experience and commitment to the local community are expected to enhance A&B's real estate presence.

Alexander & Baldwin, Inc. (NYSE:ALEX) announced its participation in the Sidoti December 2022 Small-Cap Virtual Conference, taking place on December 7-8, 2022. The company's management will present during a live webcast on December 7, 2022, from 4:00 p.m. to 4:30 p.m. Eastern Time. Investors can access the webcast through the provided link. A&B, focused solely on Hawai'i's commercial real estate, manages approximately 3.9 million square feet across various properties, cementing its role as the state's largest owner of grocery-anchored shopping centers.

Alexander & Baldwin, Inc. (NYSE:ALEX) announced its participation in the Nareit's REITworld 2022 Annual Conference from November 15–17, 2022, in San Francisco. This event presents a significant opportunity for A&B's management team to engage with investors and showcase the company's strategic focus on Hawai'i commercial real estate. A&B is the largest owner of grocery-anchored shopping centers in Hawai'i, managing approximately 3.9 million square feet of commercial space. Investor materials are accessible on A&B's website.

Alexander & Baldwin, a Hawai'i-based firm, reported strong Q3 2022 results with a 2.8% increase in Same-Store NOI and a 4.0% rise in Core FFO per diluted share year-over-year. Leased occupancy stood at 94.6%. Notable financials include net income of $6.3 million and Core FFO of $18.9 million. The company is focusing on growth opportunities, enhancing properties sustainably, and has improved its full-year guidance, projecting Core FFO per share between $1.07 and $1.11.