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Meredith (NYSE:MDP) J. Ching, Executive Vice President of External Affairs at Alexander & Baldwin, Inc. (NYSE:ALEX), recently sold 700 shares of the company’s common stock. The shares were sold at a weighted average price of $18.3757, resulting in a total transaction value of approximately $12,862.
Following this transaction, Ching holds 149,649 shares directly. Additionally, indirect ownership includes 213 shares held by her spouse and 781.571 shares held by a TCESOP. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. The shares were sold in multiple transactions, with prices ranging from $18.30 to $18.42. According to InvestingPro analysis, the stock’s RSI currently suggests overbought conditions, which may provide context for the timing of this insider sale.
In other recent news, Alexander & Baldwin reported a significant earnings surprise for the first quarter of 2025. The company achieved earnings per share (EPS) of $0.29, nearly doubling the forecasted $0.15, marking a notable 93.3% positive deviation from expectations. The company’s commercial real estate net operating income increased by 4.6% year-over-year, and it raised its total funds from operations (FFO) guidance to $1.17-$1.23 per share. Additionally, Alexander & Baldwin announced plans to expand its Komohana Industrial Park in Kapolei, O’ahu, with two new Class A industrial buildings, including a pre-leased 91,000-square-foot structure for Lowe’s (NYSE:LOW). The expansion will increase the park’s total gross leasable area by 44% upon completion in the fourth quarter of 2026. The company also highlighted strong leasing activity, with a leased occupancy rate rising to 95.4%. Analyst firms noted the company’s strategic moves and effective operational strategies as key contributors to its performance. These recent developments reflect Alexander & Baldwin’s proactive approach in navigating market conditions and capitalizing on growth opportunities.
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