Group 1 - Alexander & Baldwin Holdings (ALEX) is a real estate investment trust focused on retail, industrial, and office space primarily in Hawaii and the U.S. Mainland, with a Zacks Consensus Estimate for current year earnings increasing by 5.6% over the last 60 days [1] - ALEX has a Zacks Rank of 1 (Strong Buy) and offers a dividend yield of 5.3%, which is higher than the industry average of 4.7% [1] - LCI Industries (LCII) supplies components to the recreational vehicle and manufactured housing industries, with a Zacks Consensus Estimate for current year earnings increasing nearly 7.2% over the last 60 days [1] Group 2 - Costamare (CMRE) operates as a containership owner, chartering vessels to liner companies, with a Zacks Consensus Estimate for current year earnings increasing nearly 12.0% over the last 60 days [2] - CMRE has a Zacks Rank of 1 (Strong Buy) and offers a dividend yield of 3.4%, compared to the industry average of 2.1% [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) For the transition period from ______________________ to _________________ Commission file number 001-35492 ALEXANDER & BALDWIN, INC. (Ex ...

Financial Data and Key Metrics Changes - Total NOI growth was 4.4%, with same-store NOI growth of 4.1% and 3.9% when excluding collections of previously reserved amounts [8] - Net income available to shareholders was $20 million or $0.28 per diluted share, compared to $18.6 million or $0.26 per diluted share in the same quarter last year [12] - FFO was $29.2 million or $0.40 per diluted share, an increase from $18.6 million or $0.26 per diluted share in Q1 2023 [12][13] - G&A expenses decreased by $1.5 million or 17.1% to $7.2 million compared to $8.7 million in Q1 2023 [14] Business Line Data and Key Metrics Changes - In the Land Operations segment, over 300 acres of land were sold, generating nearly $7.9 million in operating profit, compared to an operating loss of $92,000 in the same period last year [9] - The company executed 44 leases in its improved property portfolio for approximately 212,000 square feet, achieving blended spreads of 7.8% [8] Market Data and Key Metrics Changes - Unemployment in Hawaii was 3.1% at the end of February, lower than the national average of 3.9% [11] - Visitor arrivals in Hawaii were flat at 1.5 million in the first two months of 2024 compared to 2023, with arrivals from Japan more than 80% higher than the same period in 2023 [11] Company Strategy and Development Direction - The company plans to continue prioritizing the sale of non-core assets and is raising its guidance for 2024 based on strong Q1 results [9][17] - The company is focusing on internal growth initiatives and is encouraged by external investment opportunities being underwritten [20] Management's Comments on Operating Environment and Future Outlook - Management indicated that the economic environment remains favorable, with expectations for retail and industrial assets to perform consistently [17][33] - The company expects same-store NOI growth to be slightly negative in the second quarter of 2024 due to prior year rent step-ups and tenant move-outs [18][42] Other Important Information - The company is transitioning from reporting core FFO to AFFO, which was $25.5 million or $0.35 per diluted share for Q1 2024, compared to $16 million or $0.22 per diluted share in the same period last year [13] - Total debt outstanding was $458 million, with total liquidity of $470 million [15] Q&A Session Summary Question: How much was the FFO from land sales in the first quarter? - The $0.11 in revised guidance reflects the actual impact of first-quarter performance [22] Question: What are the plans for the space vacated at Waianae Mall? - Discussions are ongoing for a backfill with a high credit tenant, and the company is optimistic about finalizing a deal [25] Question: How do you view the balance of industrial and retail property types? - The company sees favorable market conditions across all asset classes and is agnostic regarding capital allocation between different property types [33] Question: What is the expected impact of the land sales on overhead expenses? - The land sales are expected to eliminate a few hundred thousand dollars in carrying costs as part of the simplification process [39] Question: What is the company's long-term target for leverage? - The long-term target for net debt-to-EBITDA is 5 to 6 times, and the company is currently in good shape from a balance sheet perspective [54]

Premier Commercial Real Estate Company First Quarter 2024 Earnings Presentation April 25, 2024 Safe Harbor Statement Statements in this presentation that are not historical facts are forward-looking statements within t ...

Alexander & Baldwin, Inc. Reports First Quarter 2024 Results HONOLULU, HI (April 25, 2024) /PRNewswire/—Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai‘i- based owner, operator and developer of high-quality commercial real estate in Hawai‘i, today announced net income available to A&B common shareholders of $20.0 million, or $0.28 per diluted share, and Commercial Real Estate ("CRE") operating profit of $22.0 million for the first quarter of 2024. Q1 2024 Highlights • Funds From Operati ...

Core Viewpoint - Alexander & Baldwin, Inc. has successfully completed a private placement of a $60 million unsecured note, which will be utilized to pay down existing mortgage debt and for general corporate purposes [1][2]. Group 1: Financial Details - The Series M Note has a fixed interest rate of 6.09% and matures on April 15, 2032 [1]. - Proceeds from the Series M Note will be used to pay down the mortgage note secured by Laulani Village, which matures on May 1, 2024 [1]. - Interest on the Series M Note will be paid semi-annually, with the principal due at maturity [1]. Group 2: Management Commentary - Clayton Chun, A&B's CFO, expressed satisfaction with the financing arrangement, highlighting its role in extending debt maturity and maintaining a balance sheet primarily composed of fixed-rate unsecured debt [2]. - The company plans to utilize a Forward Interest Rate Swap with a fixed rate of 4.88% to manage variable interest payments on its revolving credit facility starting May 1, 2024 [2]. Group 3: Company Overview - Alexander & Baldwin, Inc. is the only publicly-traded real estate investment trust focused exclusively on commercial real estate in Hawai'i and is the largest owner of grocery-anchored neighborhood shopping centers in the state [3]. - The company manages approximately 3.9 million square feet of commercial space, including 22 retail centers, 13 industrial assets, and four office properties, along with 142.0 acres of ground lease assets [3]. - Over its 154-year history, A&B has played a significant role in the development of various industries in Hawai'i, including agriculture, transportation, tourism, construction, and commercial real estate [3].

HONOLULU, April 8, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) will report results for the first quarter 2024, after the market closes, on Thursday, April 25, 2024. In connection with this announcement, A&B will host a conference call and webcast on Thursday, April 25, 2024, at 5:00 p.m. ET. The call and webcast will feature a discussion on first quarter 2024 operating and financial performance, followed by questions from sell-side research analysts participating in the interactive por ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Alexander & Baldwin, Inc. (ALEX) is a Hawai’i-based exclusive publicly-traded real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised nearly 6% downward over the last 60 days.Cisco Systems, Inc. (CSCO) is a company that engages is the business of internet protocol based networking and other products. The Zacks Consensus Estimate for its current year earnings has been revised 5.1% downw ...

Alexander & Baldwin, Inc. (NYSE:ALEX) Q4 2023 Earnings Conference Call February 28, 2024 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 Rob Stevenson – Janney Alexander Goldfarb – Piper Sandler Mitch Germain – Citizens JMP Brendan McCarthy – Sidoti Operator Good day, and welcome to the Fourth Quarter and Full Year 2023 Alexander & B ...

Alexander & Baldwin Holdings, Inc. (ALEX) reported $52.9 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 25.3%. EPS of $0.29 for the same period compares to $0.22 a year ago.The reported revenue represents a surprise of +1.63% over the Zacks Consensus Estimate of $52.05 million. With the consensus EPS estimate being $0.27, the EPS surprise was +7.41%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...