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Alexander & Baldwin, Inc Reports Second Quarter 2021 Results
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Alexander & Baldwin, Inc Reports Second Quarter 2021 Results
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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HONOLULU, April 29, 2021 /PRNewswire/
Alexander & Baldwin, Inc. (NYSE: ALEX) ( A&B or Company ), a Hawai i-based company focused on owning and operating high-quality commercial real estate in Hawai i, today announced financial results for the first quarter of 2021.
Chris Benjamin, A&B president & chief executive officer stated: We are off to a very good start in 2021 as Hawai i s economy is recovering steadily. Each of our business segments posted better results than expected in the first quarter, boding well for the balance of 2021. Our commercial real estate ( CRE ) business continued to strengthen thanks to improved tenant performance, with first quarter results reflecting a 17% increase in CRE Net Operating Income ( NOI ) over the prior quarter. The strategic and proactive approach we undertook with tenants over the past year to reduce occupancy risk has positioned us to benefit from this recovery, and we continue to work closely with our valued tenan
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HONOLULU, Feb. 25, 2021 /PRNewswire/
Alexander & Baldwin, Inc. (NYSE: ALEX) ( A&B or Company ), a Hawai i-based company focused on owning and operating high-quality commercial real estate in Hawai i, today announced financial results for the fourth quarter and full-year of 2020.
Chris Benjamin, A&B president & chief executive officer stated: We began 2020 focused on advancing our strategic agenda and are pleased by the progress made despite the obvious hurdles imposed by COVID-19. Fourth quarter 2020 results highlight continued recovery of our commercial real estate ( CRE ) collections while full-year 2020 results reflect positive momentum in asset monetization and Grace Pacific performance. Our portfolio of needs-based retail, industrial and ground leases has shown resilience over the course of the COVID-19 pandemic, with year-end occupancy down only 40 basis points from 2019 and fourth-quarter collections at 85%.