Alexander & Baldwin: Positive On Corporate Restructuring And 2023 Outlook

Mar. 07, 2023 10:29 AM ETAlexander & Baldwin, Inc. (ALEX) StockALEX
The Value Pendulum
Investing Group Leader

Summary

  • Alexander & Baldwin, Inc.'s Q4 2022 core FFO was ahead of expectations thanks to lower general & administrative costs and the good performance of its commercial properties.
  • Alexander & Baldwin's 2023 guidance is favorable, and ALEX is transforming into a real proxy for Hawaii real estate with the planned sale of its infrastructure business.
  • I have a Buy rating for Alexander & Baldwin, as I think that it can command a higher valuation multiple considering its 2023 outlook and its non-core asset divestment plans.
  • Looking for more investing ideas like this one? Get them exclusively at Asia Value & Moat Stocks. Learn More »

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Elevator Pitch

I have a Buy investment rating assigned to Alexander & Baldwin, Inc. (NYSE:ALEX) shares. I have a positive view of ALEX's corporate restructuring activities and its 2023 financial guidance. My price target for ALEX

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This article was written by

The Value Pendulum
12.78K Followers

The Value Pendulum is an Asian equity market specialist with over a decade of experience on both the buy and sell sides.

He is the author of the investing group Asia Value & Moat Stocks, providing ideas for value investors seeking investment opportunities listed in Asia, with a particular focus on the Hong Kong market. He hunts for deep value balance sheet bargains and wide moat stocks and provides a range of watch lists with monthly updates within his investing group.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

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