The company's portfolio includes 21 retail centers, 14 industrial assets, four office properties, and fee interests in 146 acres of ground lease assets. Alexander & Baldwin's unique market focus on Hawaii provides a significant competitive advantage, with specialization allowing for deep local market knowledge and established relationships crucial in navigating the state's unique economic landscape and regulatory environment. The company operates through two reporting segments: Commercial Real Estate and Land Operations, with strategic emphasis on active asset management and ground lease monetization.
The company reported net income of $25.1 million in Q2 2025, with a 5.3% increase in Commercial Real Estate Same-Store Net Operating Income and a high occupancy rate of 95.8% as of June 30, 2025. The company benefits from a niche, geographically-focused strategy with stable cash flows from grocery-anchored retail, though size constraints and regional economic dependence present moderate headwinds. An announced merger and planned transition from a publicly traded REIT on the NYSE to a privately held company represents a significant structural development.
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