Alexander & Baldwin, Inc. (ALEX) a publicly traded real estate investment trust focused exclusively on Hawai'i commercial real estate, Thursday reported positive fourth-quarter performance for 2024, with net income available to common shareholders of $12.4 million for the three months ended December 31, 2024, compared to a net loss of $3.5 million in the same period last year.
Earnings per share from continuing operations were $0.17, up from $0.12 in the prior-year quarter. Funds From Operations increased to $22 million from $19.8 million, reflecting higher operating performance. Adjusted FFO rose to $14.2 million from $12.2 million a year earlier.
The company also provided its initial outlook for 2025, forecasting net income available to common shareholders between $0.64 and $0.71 per share, compared to $0.83 per share in 2024. The company expects Funds From Operations per share to range from $1.13 to $1.20, down from $1.37 in the prior year.
ALEX is closed Thursday's trading at 18.00 down 0.50 percent or $0.09 on the New York Stock Exchange.
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