Group 1 - The Board of Directors of Alexander & Baldwin, Inc. approved a second quarter 2025 dividend of $0.225 per share, payable on July 9, 2025, to shareholders of record as of June 13, 2025 [1] Group 2 - Alexander & Baldwin, Inc. is the only publicly-traded real estate investment trust focusing exclusively on Hawai'i commercial real estate and is the largest owner of grocery-anchored neighborhood shopping centers in the state [2] - The company owns, operates, and manages approximately 4.0 million square feet of commercial space in Hawai'i, including 21 retail centers, 14 industrial assets, four office properties, and 146 acres of ground lease assets [2] - Over its 155-year history, Alexander & Baldwin has played a leadership role in the development of various industries in Hawai'i, including agriculture, transportation, tourism, construction, residential, and commercial real estate [2]

Core Insights - Alexander & Baldwin, Inc. has executed a 75-year ground lease for 4.7 acres at its Maui Business Park Phase II project, indicating strong commercial activity and interest in the area [1][2] - The lease agreement is with a prominent self-storage developer, which aligns with the company's strategy to transform non-income generating land into productive assets [2] - Maui Business Park Phase II is a 125-acre mixed-use development that has attracted various businesses and is located near key infrastructure such as Kahului Harbor and Kahului Airport [3] Company Overview - Alexander & Baldwin, Inc. is the only publicly-traded real estate investment trust focused exclusively on Hawai'i commercial real estate and is the largest owner of grocery-anchored neighborhood shopping centers in the state [4] - The company manages approximately 4.0 million square feet of commercial space in Hawai'i, including 21 retail centers, 14 industrial assets, and four office properties [4] - Over its 155-year history, the company has played a significant role in the development of various industries in Hawai'i, including agriculture, transportation, tourism, and commercial real estate [4]

Core Insights - The article highlights Steven Cress's role as VP of Quantitative Strategy and Market Data at Seeking Alpha, emphasizing his contributions to the platform's quantitative stock rating system and analytical tools [1][2] - Cress is dedicated to removing emotional biases from investment decisions through a data-driven approach, utilizing sophisticated algorithms to simplify investment research [2][4] - His background includes founding CressCap Investment Research, which was acquired by Seeking Alpha in 2018, and previously running a proprietary trading desk at Morgan Stanley [3][4] Company Contributions - Seeking Alpha benefits from Cress's expertise in quantitative strategies, which form the foundation of its Quant Rating system designed to provide insights for investors [1][2] - The platform offers a systematic stock recommendation tool, Alpha Picks, aimed at helping long-term investors build high-quality portfolios [1] Industry Experience - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him as a knowledgeable figure in the investment industry [4]

Core Viewpoint - Alexander & Baldwin, Inc. (A&B) will report its first quarter 2025 results on April 24, 2025, and will host a conference call and webcast to discuss its operating and financial performance [1][2]. Company Overview - A&B is the only publicly-traded real estate investment trust focused exclusively on Hawai'i commercial real estate and is the largest owner of grocery-anchored neighborhood shopping centers in the state [4]. - The company owns, operates, and manages approximately 4.0 million square feet of commercial space in Hawai'i, which includes 21 retail centers, 14 industrial assets, and four office properties, along with 142 acres of ground lease assets [4]. - Over its 155-year history, A&B has played a significant role in the development of various industries in Hawai'i, including agriculture, transportation, tourism, construction, residential, and commercial real estate [4].

Alexander & Baldwin Holdings, Inc. (ALEX) closed the last trading session at $17.58, gaining 0.2% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $22 indicates a 25.1% upside potential.The mean estimate comprises four short-term price targets with a standard deviation of $1.41. While the lowest estimate of $21 indicates a 19.5% increase from the current price level, the most optimi ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RLJ, APLE, ARE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. A Buy, Sell, or Hold rating in this article does not constitute a Buy, Sell, or Hold recommendation. All investors should exercise t ...

Financial Performance - Operating revenue for 2024 increased by 13.3%, or $27.8 million, to $236.6 million, primarily due to higher revenues from land sales in the Land Operations segment [162]. - Cost of operations for 2024 rose by 21.1%, or $22.5 million, to $129.0 million, mainly due to increased costs associated with land sales in the Land Operations segment [163]. - Net income for 2024 was $60.5 million, a significant increase of 83.7% compared to $33.0 million in 2023 [161]. - Income from continuing operations increased by 56.8%, or $23.2 million, to $64.0 million in 2024 [161]. - Funds From Operations (FFO) for 2024 was $100.0 million, up 26.0% from $79.4 million in 2023 [161]. - The Company reported a net income available to common shareholders of $60.5 million for 2024, up from $29.7 million in 2023, representing a 103% increase [198]. - Adjusted Funds from Operations (Adjusted FFO) increased to $80.1 million in 2024 from $63.6 million in 2023, marking a 26% growth [198]. - Same-store Net Operating Income (NOI) for 2024 was $126.4 million, up from $122.8 million in 2023, indicating a 3% increase [202]. Land Operations - The Company completed sales of approximately 430 acres of legacy land holdings for a total of $20.2 million in 2024, compared to 460 acres for $12.3 million in 2023 [158]. - Total Land Operations operating revenue increased significantly to $39.3 million in 2024 from $14.9 million in 2023, primarily due to land sales [187]. - Land Operations operating profit for 2024 was $18.9 million, compared to $10.8 million in 2023, driven by margins from land sales and equity earnings from joint ventures [188]. - The impairment of assets decreased significantly from $4.8 million in 2023 to $0.3 million in 2024, reflecting fewer abandoned projects [164]. Commercial Real Estate - Commercial Real Estate operating revenue increased by 1.7% to $197.4 million for the year ended December 31, 2024, compared to $193.9 million in 2023 [172]. - Operating profit for Commercial Real Estate rose by 10.1% to $89.4 million in 2024, up from $81.2 million in 2023 [172]. - Net Operating Income (NOI) for Commercial Real Estate was $127.5 million in 2024, a 3.4% increase from $123.3 million in 2023 [172]. - The Company signed 60 new leases covering 131,500 square feet with an average annual base rent of $27.45 per square foot, resulting in an 11.6% average base rent increase over comparable expiring leases [175]. Discontinued Operations - The Company reported a loss from discontinued operations of $3.5 million in 2024, an improvement from a loss of $7.8 million in 2023 [168]. - Cash flows from discontinued operations for the year ended December 31, 2024, included $4.1 million in operating activities and $15.0 million from investing activities related to the Grace Disposal Group [219]. Capital Expenditures and Investments - The Company expects short-term capital expenditures of $41.5 million over the next twelve months, with significant commitments including $19.7 million for tenant improvements [208]. - Cash used in investing activities for the year ended December 31, 2024, was $31.1 million, an increase from $27.6 million in 2023, with capital expenditures totaling $50.8 million, including a $29.8 million commercial real estate acquisition [215]. - Total capital expenditures for real estate in 2024 amounted to $50.7 million, compared to $31.1 million in 2023, with discretionary capital expenditures increasing from $15.4 million in 2023 to $32.8 million in 2024 [217]. - The Company expects capital expenditures for 2025, excluding potential acquisitions, to be approximately $60.0 million to $70.0 million, indicating a strategic focus on growth [217]. Liquidity and Debt Management - The Company has a liquidity source of $22.5 million in short-term contractual interest payments and $68.5 million in long-term payments [207]. - As of December 31, 2024, the Company had cash and cash equivalents of $33.4 million and $150.0 million of borrowings outstanding under its revolving credit facility, with $300.0 million of available capacity [213]. - The Company remains compliant with its financial covenants as of December 31, 2024, ensuring continued access to its credit facilities [204]. - The Company is exposed to interest rate changes due to its borrowing activities and manages this risk through a mix of fixed-rate and variable-rate debt, along with interest rate swaps [235]. - As of December 31, 2024, the Company has $455.2 million in fixed-rate debt and $20.0 million in variable-rate debt [236]. - The weighted average interest rate on remaining fixed-rate principal is projected to range from 4.63% to 6.09% over the next five years [238]. - The weighted average interest rate on remaining variable-rate principal is 5.48% for the next four years [238]. - The Company has three interest rate swap agreements with an average pay fixed rate of 4.37% and an average receive rate of 5.61% [238]. - The fair value of the interest rate derivatives for variable to fixed interest rate swaps is recorded as an asset of $1.4 million as of December 31, 2023 [238]. - The Company actively monitors economic conditions and their impact on interest rates to make informed decisions regarding its financial condition and liquidity [240]. Other Financial Metrics - Basic earnings per share for continuing operations increased by 57.1% to $0.88 in 2024, compared to $0.56 in 2023 [161]. - Cash flows from continuing operations rose to $102.1 million in 2024, an increase of $26.6 million from $75.5 million in 2023, primarily due to higher land sales [210]. - The Company collected $3.9 million in financing receivables related to prior years' land sales in 2024 [211]. - The Company differentiates capital expenditures into ongoing maintenance and discretionary categories, with ongoing maintenance expenditures totaling $15.1 million in 2024 [216]. - The Company has not sold any shares under its at-the-market equity distribution agreement, which allows for sales up to $200.0 million [214]. - The estimated exposure to interest rate risk is based on the expected remaining principal obligation as of December 31, 2024 [237]. - The estimated principal outstanding for variable-rate debt may vary from the amounts indicated due to actual market conditions [238].

Alexander & Baldwin, Inc. (NYSE:ALEX) Q4 2024 Results Conference Call February 27, 2025 5:00 PM ET Company Participants Michael Imanaka - Senior Manager Lance Parker - CEO Clayton Chun - CFO Kit Millan - Senior Vice President of Asset Management Conference Call Participants Gaurav Mehta - Alliance Global Partners Rob Stevenson - Janney Alexander Goldfarb - Piper Sandler Mitch Germain - Citizens JMP Brendan McCarthy - Sidoti Operator Good afternoon, ladies and gentlemen, welcome to the Fourth Quarter 2024 Al ...

For the quarter ended December 2024, Alexander & Baldwin Holdings, Inc. (ALEX) reported revenue of $62.45 million, up 18.1% over the same period last year. EPS came in at $0.30, compared to $0.12 in the year-ago quarter.The reported revenue represents a surprise of +20.92% over the Zacks Consensus Estimate of $51.65 million. With the consensus EPS estimate being $0.28, the EPS surprise was +7.14%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.30 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to FFO of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 7.14%. A quarter ago, it was expected that this company would post FFO of $0.33 per share when it actually produced FFO of $0.39, delivering a surprise of 18.18%.Over the last four quart ...