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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.
On March 8, 2021, Alexander & Baldwin (NYSE:ALEX) announced participation in the Citi 2021 Virtual Global Property CEO Conference. Key executives, including Chris Benjamin (CEO) and Brett Brown (CFO), will present on March 11, 2021, from 2:00-2:35 pm EST. The presentation will be available via audio-only webcast on their website. A&B, the largest owner of grocery-anchored shopping centers in Hawai'i, manages approximately 3.9 million square feet of commercial space and focuses on strengthening its commercial real estate portfolio.
Alexander & Baldwin reported Q4 2020 net income of $1 million ($0.01/share), down from $5.2 million ($0.07/share) a year earlier. Full-year net income reached $5.5 million, a recovery from a $36.6 million loss in 2019. Commercial real estate (CRE) revenue fell 12.1% in Q4 and 6.6% for the year, with Same-Store NOI dropping 19.3% in Q4. Despite challenges from COVID-19, the company achieved a high occupancy rate of 98.6% in its industrial portfolio and maintained a dividend of $0.15/share. The 2021 guidance forecasts Core FFO per share between $0.67 to $0.77.
On February 23, 2021, Alexander & Baldwin, Inc. (NYSE:ALEX) announced a first-quarter 2021 dividend of $0.15 per share. This dividend is set to be paid on April 2, 2021, to shareholders recorded as of the close of business on March 18, 2021. A&B is a leading real estate investment trust focused on Hawai'i commercial real estate, managing approximately 3.9 million square feet of commercial space in the state, including grocery-anchored shopping centers.
Alexander & Baldwin, Inc. (NYSE:ALEX) is set to report its fourth quarter and full-year 2020 results on February 25, 2021, after market closure. A live webcast will follow at 5:00 p.m. ET that day for financial analysts and investors. The call will present insights into the company's operating and financial performance, allowing for interactive Q&A. A&B, a leader in Hawai'i's commercial real estate, manages 3.9 million square feet of commercial space and aims to strengthen its Hawai'i-focused portfolio through strategic asset management.
Alexander & Baldwin announced the allocation of its 2020 dividend distributions for common shares. Shareholders will receive $0.340 total for the year, distributed across multiple payments: $0.190 on March 24, 2020, and $0.150 on January 12, 2021. Key dates include an ex-dividend date of March 5 for the first payment, and a record date of December 28 for the last. Shareholders can expect IRS Form 1099-DIV for tax reporting. A&B is a major commercial real estate firm in Hawaii, owning significant retail and industrial properties.
Alexander & Baldwin (NYSE:ALEX) announced participation in two virtual investor conferences set for January 11-13, 2021. Chris Benjamin, Brett Brown, and Lance Parker will present at the ICR Conference 2021 on January 11 at 2:30 pm EST, and at the Capital One Securities Inaugural REIT Conference on January 11-12. Updated investor materials will be available starting January 11 on their website. A&B is a leading commercial real estate company in Hawai'i, owning approximately 3.9 million square feet of commercial space, focusing on expanding its real estate portfolio.
The Board of Directors of Alexander & Baldwin (NYSE:ALEX) approved a fourth quarter 2020 dividend of $0.15 per share, payable on January 12, 2021, to shareholders recorded as of December 28, 2020. This reinstatement reflects the Board's confidence in A&B's portfolio and the improving economy in Hawai'i. A&B owns approximately 3.9 million square feet of commercial space and is focused on enhancing its Hawai'i real estate assets while monetizing non-core holdings.
Alexander & Baldwin (NYSE:ALEX) announces participation in the Nareit REITworld 2020 Virtual Annual Conference from November 17-19, 2020. Key executives, including CEO Chris Benjamin and CFO Brett Brown, will present updated investor materials and November collections data, accessible on their website. A&B is a leading commercial real estate company in Hawai'i, managing approximately 3.9 million square feet of commercial space, including retail centers and industrial assets, focusing on enhancing its Hawai'i CRE portfolio.
Alexander & Baldwin (ALEX) reported third-quarter 2020 financial results showing a net income of $3.0 million, a significant turnaround from a $49.8 million loss in Q3 2019. Funds From Operations (FFO) improved to $12.5 million, a shift from a negative $40 million the previous year. While commercial real estate revenue declined by 16.4% to $35.7 million, the company achieved an 81% collection rate for the quarter. The portfolio maintained a 93.5% occupancy rate, with 35 new leases signed. The company anticipates a catch-up dividend in Q4 and is focused on supporting the tourism sector amidst ongoing COVID-19 uncertainties.
Alexander & Baldwin, Inc. (ALEX) will report its third quarter 2020 results after market close on October 29, 2020. A live webcast will follow at 5:00 p.m. ET for financial analysts and investors, featuring insights into the company's operating and financial performance. This event will be accessible through A&B's website, with presentation slides available post-market close. A&B is a leading commercial real estate company in Hawai'i, managing significant retail and industrial spaces.
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