Alexander & Baldwin

Alexander & Baldwin, Inc. engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management. The Land Operations segment consists of legacy assets and landholdings that are subject to the company's simplification and monetization effort. The Materials and Construction segment deals with asphalt paving contractor and natural materials and infrastructure construction services. The company was founded by Samuel Thomas Alexander and Henry Perrine Baldwin on 1870 and is headquartered in Honolulu, HI.

Earnings data Q1 2021

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Alexander & Baldwin (ALEX) reports robust CRE performance and challenges

ALEX showcased strong performance in commercial real estate and financial stability for the full year.
The company faced challenges related to tenant bankruptcies, capital allocation, and economic uncertainties.
Opportunities for growth include optimizing capital allocation, strategic reinvestment, and following guidance for 2023.
Overall, ALEX's resilience, strategic focus, and market positioning were key takeaways from the earnings call.

Alexander & Baldwin (ALEX) reports strong Q1 performance amidst leadership change

Alexander & Baldwin (ALEX) delivered a solid performance in Q1 2023, driven by commercial real estate growth and Hawaii's strong local economy.
While facing challenges in retail trends, debt refinancing, and business diversification, the company remains focused on sustainable growth strategies.
With a smooth CEO transition and a strategic focus on organic and external growth opportunities, A&B is poised to navigate challenges and seize market opportunities.

Alexander & Baldwin (ALEX) reports robust Q2 earnings and raises Core FFO guidance

Alexander & Baldwin (ALEX) delivered a solid performance in Q2 2023, driven by strong CRE revenue growth and operational efficiency. Despite challenges in leased occupancy rates, the company remains optimistic about future gains and raised guidance for Core FFO.

Alexander & Baldwin (ALEX) reports solid Q3 performance amidst challenges

Alexander & Baldwin (ALEX) showcased strong financial performance and leasing activity, underlining resilience and growth potential.
While challenges like the impact of Maui wildfires were discussed, the company remains focused on strategic positioning and community engagement.
Positive guidance for core FFO and same-store NOI growth signals opportunities for continued success and value creation for stakeholders.

Alexander & Baldwin (ALEX) exceeds Q4 expectations, eyes growth opportunities

Alexander & Baldwin (ALEX) delivered strong financial results in Q4, exceeding expectations. The company's strategic initiatives and focus on core metrics position it well for future growth despite challenges in the market.

Alexander & Baldwin (ALEX) reports strong Q1 performance and outlook

Alexander & Baldwin (ALEX) delivered a robust Q1 performance, exceeding expectations in land sales and financial metrics.
The company's strong balance sheet, liquidity position, and strategic planning underscore its resilience and growth potential.
With raised guidance and proactive measures in place, ALEX is well-positioned to capitalize on opportunities and navigate challenges ahead.

Alexander & Baldwin (ALEX) reports growth in Q2 2024 earnings

Alexander & Baldwin (ALEX) delivered a solid performance in Q2 2024, showcasing growth in key financial metrics and operational areas. The company raised guidance across various segments and remains optimistic about its positioning for the year ahead.

Alexander & Baldwin (ALEX) reports robust Q3 earnings and strategic growth outlook

Alexander & Baldwin (ALEX) demonstrated strong financial performance and strategic focus in Q3 2024, supported by growth in NOI and FFO.
The company's emphasis on operational excellence and cost management underpins its resilience and growth prospects.
While challenges like rent spreads and land sales impact exist, opportunities in Hawaii's economy and strategic guidance revisions offer avenues for future success.

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Alexander & Baldwin, Inc. engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort. The company was founded by Samuel Thomas Alexander and Henry Perrine Baldwin in 1870 and is headquartered in Honolulu, HI.

HONOLULU, Dec. 11, 2023 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, approved a fourth quarter 2023 dividend of $0.2225 (twenty-two and ¼ cents) per share. The dividend is payable on January 8, 2024, to shareholders of record as of the close of business on December 22, 2023.

Alexander & Baldwin Fourth Quarter 2023 Dividend Authorized

Nan, Inc. Acquires one of Hawai'i's Largest Paving Contractors; Expands Footprint in Hawai'i HONOLULU , Nov. 15, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced today, it has sold Grace Pacific LLC to Nan, Inc., Hawai'i's largest, locally owned construction company. A&B acquired Grace Pacific, one of the state's largest asphalt paving contractors, materials, and construction companies, in 2013.

Alexander & Baldwin Sells Grace Pacific

HONOLULU , Nov. 9, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) announced today that its management team will participate in investor meetings at Nareit's REITworld 2023 Annual Conference in Los Angeles, California. Investor material for the conference scheduled for November 14-16, 2023, may be accessed on the Company's website at www.alexanderbaldwin.com.

Alexander & Baldwin to Participate in Nareit's REITworld 2023 Annual Conference

Alexander & Baldwin, Inc. (NYSE:ALEX ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Steve Swett - Investor Relations Lance Parker - Chief Executive Officer Clayton Chun - Chief Financial Officer Kit Millan - Senior Vice President-Asset Management Conference Call Participants Connor Mitchell - Piper Sandler Operator Hello, and welcome to the Alexander & Baldwin Third Quarter 2023 earnings conference call. All participants will be in listen only mode.

Alexander & Baldwin, Inc. (ALEX) Q3 2023 Earnings Call Transcript

Alexander & Baldwin's current P/FFO valuation multiple is way below its historical average. Alexander & Baldwin's potential catalysts include a faster pace of share repurchases, initiatives to maximize the value of portfolio assets, and earnings beats for Q4 2023 and 2024. I retain my Buy rating for ALEX in consideration of both valuations and catalysts.

Alexander & Baldwin: Multiple Catalysts

HONOLULU , Nov. 2, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, today announced net income available to A&B common shareholders of $14.6 million, or $0.20 per diluted share, and Commercial Real Estate (CRE) operating profit of $20.6 million for the third quarter of 2023. Quarterly Highlights for Q3 2023 Nareit-defined Funds From Operations ("FFO") of $21.1 million, or $0.29 per diluted share / Core FFO of $21.8 million, or $0.30 per diluted share CRE Same-Store Net Operating Income ("NOI") growth and CRE Same-Store NOI growth excluding collections of previously reserved amounts of 6.3% Leased occupancy as of September 30, 2023 was 94.6% Comparable new and renewal leasing spreads for the improved portfolio were 5.5% and 12.3%, respectively Lance Parker, president and chief executive officer, stated: "In the third quarter, our commercial real estate portfolio continued to perform well.

Alexander & Baldwin, Inc. Reports Third Quarter 2023 Results

HONOLULU , Oct. 13, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, will report results for the third quarter 2023 after the market closes on Thursday, November 2, 2023. In connection with this announcement, A&B will host a conference call on Thursday, November 2, 2023, at 5:00 p.m.

Alexander & Baldwin Announces Third Quarter 2023 Earnings Release and Conference Call Date

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HONOLULU , Sept. 11, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) announced today that its management team will participate in Bank of America Securities 2023 Global Real Estate Conference in New York.

Alexander & Baldwin to Participate in Bank of America Securities 2023 Global Real Estate Conference

Alexander & Baldwin Holdings, Inc. (ALEX) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Down -6.53% in 4 Weeks, Here's Why Alexander & Baldwin Holdings, Inc. (ALEX) Looks Ripe for a Turnaround

Alexander & Baldwin Holdings, Inc. (ALEX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Alexander & Baldwin Holdings, Inc. (ALEX) Upgraded to Buy: Here's What You Should Know

Alexander & Baldwin is a pure-play Hawaiian operator of commercial real estate properties. Though operations are centered on the Island of Oahu, the company's overall concentration on the Hawaiian Island chain exposes them to significant risks resulting from the 2023 Maui Wildfires. Rising insurance premiums and disruptions in the ongoing disposition efforts of Grace Pacific are two visible risks.

Alexander & Baldwin: Maui Wildfires Create Downside Risk

Alexander & Baldwin, Inc. (NYSE:ALEX ) Q2 2023 Earnings Conference Call July 27, 2023 5:00 PM ET Company Participants Steve Swett – Investor Relations Lance Parker – Chief Executive Officer Clayton Chun – Chief Financial Officer Kit Millan – Senior Vice President-Asset Management Conference Call Participants Alexander Goldfarb – Piper Sandler Mitch Germain – JMP Securities Operator Good afternoon, and welcome to the Alexander & Baldwin Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Alexander & Baldwin, Inc. (ALEX) Q2 2023 Earnings Call Transcript

Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.29 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to FFO of $0.28 per share a year ago.

Alexander & Baldwin Holdings, Inc. (ALEX) Lags Q2 FFO Estimates

HONOLULU , July 27, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, today announced net income available to A&B common shareholders of $13.3 million, or $0.18 per diluted share, and Commercial Real Estate (CRE) operating profit of $22.7 million for the second quarter of 2023. Quarterly Highlights for Q2 2023 Nareit-defined Funds From Operations ("FFO") of $19.8 million, or $0.27 per diluted share / Core FFO of $21.3 million, or $0.29 per diluted share CRE Same-Store Net Operating Income ("NOI") growth of 4.6% / CRE Same-Store NOI growth of 9.2%, excluding collections of previously reserved amounts Leased occupancy as of June 30, 2023 was 94.4% Comparable new and renewal leasing spreads for the improved portfolio were 10.1% and 4.7%, respectively Executed the renewal of the Windward City Shopping Center ground lease, which resulted in a $1.1 million increase to Annualized Base Rent ("ABR") As previously announced, acquisition of a 33,200-square-foot industrial asset for $9.5 million Lance Parker, president and chief executive officer, stated: "In the second quarter, the strength of our commercial real estate portfolio continued to produce exceptional results.

Alexander & Baldwin, Inc. Reports Second Quarter 2023 Results

HONOLULU , July 25, 2023 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, approved a third quarter 2023 dividend of $0.22 (twenty-two cents) per share. The dividend is payable on October 4, 2023, to shareholders of record as of the close of business on September 18, 2023.

Alexander & Baldwin Third Quarter 2023 Dividend Authorized

HONOLULU , July 12, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, will report results for the second quarter 2023, after the market closes, on Thursday, July 27, 2023. In connection with this announcement, A&B will host a conference call on Thursday, July 27, 2023, at 5:00 p.m.

Alexander & Baldwin Announces Second Quarter 2023 Earnings Release and Conference Call Date

Hawaiian Electric Industries

A&B's planned leadership transition continues with the appointment of Lance Parker as a director HONOLULU , June 30, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced that Shelee Kimura has been appointed to serve on its Board of Directors, effective July 1, 2023. Kimura joins the Board after the departure of Michele Saito, who has been a director since 2012.

Alexander & Baldwin Appoints Shelee Kimura to its Board of Directors

Shares in Alexander & Baldwin (“A&B”) remain in a narrow trading range. But they are outperforming much of their peer set. Market dominance in the Hawaiian Islands continues to provide a protective moat to their core business. A&B can rise higher from current trading levels. But ongoing efforts to dispose of a discontinued unit creates near-term uncertainties.

Alexander & Baldwin: Maintaining Its Moat On The Hawaiian Islands

HONOLULU , June 1, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) announced today that its management team will participate in Nareit's REIT Week: 2023 Investor Conference in New York. A&B will present an overview of its business and operations, followed by a question and answer session.

Alexander & Baldwin to Participate in Nareit's REITweek: 2023 Investor Conference

HONOLULU , May 24, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced the appointment of Jeff Pauker to executive vice president and chief investment officer. Since 2018, Pauker has led A&B's investments team, responsible for core and opportunistic real estate investments, property dispositions, and asset-level financings.

ALEXANDER & BALDWIN PROMOTES JEFF PAUKER TO EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER

Alexander & Baldwin has maintained the company's financial guidance for 2023, which is supported by the strength in Hawaii's economy. In the intermediate to long term, new tenants and acquisitions are expected to be the key growth drivers for ALEX.

Alexander & Baldwin: Positive On Unchanged Guidance And Long-Term Drivers

Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.29 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to FFO of $0.29 per share a year ago.

Alexander & Baldwin Holdings, Inc. (ALEX) Q1 FFO Surpass Estimates

HONOLULU , May 4, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning and operating high-quality commercial real estate in Hawai'i, today announced financial results for the first quarter of 2023. Chris Benjamin, A&B chief executive officer, stated: "Our commercial real estate ("CRE") portfolio performed well in the first quarter of 2023, continuing last year's momentum.

Alexander & Baldwin, Inc. Reports First Quarter 2023 Results

HONOLULU , April 25, 2023 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) approved a second quarter 2023 dividend of $0.22 (twenty-two cents) per share. The dividend is payable on July 5, 2023, to shareholders of record as of the close of business on June 16, 2023.

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