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Investing.com - JMP analyst Mitch Germain has reiterated a Market Perform rating on Alexander & Baldwin (NYSE:ALEX), following virtual meetings with the company’s senior leadership.
The meetings included discussions with President & Chief Executive Officer Lance Parker and Chief Financial Officer Clayton Chun about the company’s portfolio trends, developments, and growing investment pipeline in the Hawaiian commercial real estate market.
According to management, the high-barrier Hawaiian commercial real estate market experienced a delayed recovery after the pandemic but is now seeing increased activity as buyers and sellers respond to greater macroeconomic certainty.
JMP noted that management’s established relationships and market scale should deliver consistent deal activity, while the company’s leverage remains below its long-term target, enabling smooth execution of its strategy.
The firm views ALEX shares as fairly valued, trading at mid-16x based on management’s 2025 earnings outlook for its commercial real estate segment ($1.12-$1.16), compared to the shopping center REIT average of roughly 14x, with the premium justified by the company’s industrial exposure, Hawaii operating fundamentals, and low leverage. This aligns with InvestingPro’s Fair Value assessment, which suggests the stock is currently trading near its fair value. For deeper insights into ALEX’s valuation and 12+ additional ProTips, including its 4-year dividend growth streak, access the comprehensive Pro Research Report.
In other recent news, Alexander & Baldwin Holdings Inc. reported strong financial results for the second quarter of 2025. The company exceeded earnings expectations with an earnings per share (EPS) of $0.35, significantly higher than the forecasted $0.17. Revenue also surpassed projections, reaching $51.7 million compared to the anticipated $51.24 million. These results indicate a solid performance for the period. The company’s financial achievements were highlighted in their earnings call, reflecting positive momentum. While the stock price saw a modest increase following the earnings announcement, the focus remains on the robust financial outcomes. The recent developments underscore the company’s ability to outperform market forecasts. Investors and analysts will likely keep a close watch on Alexander & Baldwin’s future performance.
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