Maridav
Alexander & Baldwin (NYSE:ALEX), or A&B as is more commonly known, is a premier commercial real estate company based out of the State of Hawaii. They have a long history operating on the islands and are the owner of the largest
Alexander & Baldwin: Capitalized On A Strong Hawaiian Market In 2022
Summary
- Alexander & Baldwin is the premier publicly traded REIT focused on the Hawaiian market.
- The company has a long operating history on the island chain, and they own a sizeable portfolio of commercial real estate assets, as well as non-core land holdings.
- In fiscal 2022, A&B exceeded the high end of expectations. The strong results also enabled three dividend hikes during the year, as well as the conviction to opportunistically repurchase shares.
- While the outlook is positive, the timing of their pending sale of their Grace Pacific unit is uncertain.
- The upside potential also appears limited due to a lack of meaningful catalysts for growth.
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