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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.
Alexander & Baldwin, Inc. reported strong financial results for Q2 2022, achieving a 4.4% increase in Same-Store NOI and a 12.0% increase in Core FFO per diluted share year-over-year. Total leased occupancy reached 94.6%, while the company executed 76 leases with notable leasing spreads. The sale of approximately 18,900 acres of land on Kaua'i marks a significant strategic move, contributing $73.9 million in net cash proceeds. The company declared a dividend increase of $0.22 per share and revised its full-year guidance upward, reflecting improved performance expectations.
Alexander & Baldwin (NYSE:ALEX) has announced a $0.22 per share dividend for Q3 2022, marking a 10% increase from Q2 2022's $0.20. This is the third consecutive quarterly increase, reflecting strong commercial real estate performance. The dividend will be payable on October 5, 2022, to shareholders of record by September 19, 2022. CEO Chris Benjamin expressed satisfaction with the portfolio's performance, which supports the dividend increase.
Alexander & Baldwin, Inc. (NYSE:ALEX) will report its second quarter 2022 financial results on July 28, 2022, after market close. The report will be followed by a conference call and webcast held at 5:00 p.m. ET on the same day. Key company executives will discuss operating performance and answer questions from analysts. A&B is focused on Hawai'i commercial real estate, managing approximately 3.9 million square feet of space, including 22 retail centers. The earnings call will be accessible via their website.
Alexander & Baldwin, Inc. (NYSE:ALEX) announced its participation in the Nareit's REITweek: 2022 Investor Conference, taking place in New York from June 7–9, 2022. The company will present an overview of its business operations on June 8, 2022, at 3:30 p.m. Eastern Time, followed by a Q&A session. Investors can access the live webcast here. A&B is the largest owner of neighborhood shopping centers in Hawai'i, managing approximately 3.9 million square feet of commercial space.
Alexander & Baldwin reported strong Q1 2022 results with a 17% increase in Same-Store NOI and 38% increase in Core FFO per share year-over-year. Net income reached $10.5 million or $0.14 per share. Commercial real estate revenue rose by 15.5% to $46.1 million, with total leasing occupancy at 94.5%. The company declared a $0.20 quarterly dividend, reflecting robust performance and revised full-year guidance for Core FFO per diluted share to $1.01 to $1.07.
The Board of Directors of Alexander & Baldwin (NYSE: ALEX) has approved a $0.20 dividend per share for Q2 2022, marking a 1-cent increase from Q1 2022's $0.19. This is the second consecutive quarterly increase, driven by strong commercial real estate results. The upcoming dividend is payable on July 6, 2022, with a record date of June 17, 2022. A&B focuses on Hawai'i commercial real estate and is the largest owner of grocery-anchored shopping centers in the state.
Alexander & Baldwin, Inc. (NYSE:ALEX) will release its first-quarter 2022 financial results after the market closes on May 5, 2022. Following the announcement, a conference call and webcast will take place at 5:00 p.m. ET, featuring senior management, including CEO Chris Benjamin. The event will cover operating and financial performance, along with a Q&A session with sell-side analysts. Presentation slides will be available on A&B's Investors page following the market's closure on the same date.
Alexander & Baldwin (NYSE:ALEX) announced participation in the Citi 2022 Global Property CEO Conference by key executives, including CEO Chris Benjamin and COO Lance Parker. The event will feature a live webcast on March 9, 2022, from 10:30 a.m. to 11:05 a.m. ET. A replay will be available twelve hours post-event. A&B focuses on Hawai'i commercial real estate, managing about 3.9 million square feet of commercial space. For more details, visit www.alexanderbaldwin.com.
Alexander & Baldwin (ALEX) announced strong financial results for Q4 and full-year 2021, with a significant 17% increase in Commercial Real Estate (CRE) Net Operating Income (NOI) and a 26% rise in Core Funds From Operations (Core FFO).
Fourth-quarter net income was $6.1 million ($0.08/share), compared to $1.0 million ($0.01/share) in Q4 2020. Full-year net income reached $35.1 million ($0.48/share), boosted by strong CRE performance, despite a $29 million impairment in the Materials & Construction segment.
The company plans to focus on growth as it transitions to a pure-play Hawai'i CRE firm.
The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) has approved a first quarter 2022 dividend of $0.19 per share, reflecting a 1-cent increase from the fourth quarter 2021 dividend of $0.18. This dividend return is the company’s first step back to its pre-pandemic level. The payment date is set for April 5, 2022, for shareholders on record by the close of business on March 18, 2022.
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