Overview

* Alexander & Baldwin (Hawaii) Q3 net income declines to $14.3 mln, EPS at $0.20

* FFO for Q3 decreases to $21.4 mln, but company raises full-year guidance

* Company advances industrial projects, executes key lease renewal with 11% spread

Outlook

* Company raises full-year FFO per diluted share guidance to $1.36-$1.41

* Alexander & Baldwin maintains CRE Same-Store NOI growth guidance at 3.4%-3.8%

* Company sees full-year net income per diluted share at $0.95-$1.00

Result Drivers

* LEASE RENEWAL - Executed a key lease renewal in Kailua Town with an 11% spread, reinforcing leasing strength

* INDUSTRIAL PROJECTS - Advanced construction on industrial projects, including Maui Business Park and Komohana Industrial, adding over 150,000 sq. ft. of GLA

* OCCUPANCY RATES - Maintained high leased occupancy at 95.6%, with strong leasing spreads across the portfolio

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.20

Q3 Net $14.33

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the diversified reits peer group is "buy"

* Wall Street's median 12-month price target for Alexander & Baldwin Inc (Hawaii) ( ALEX ) is $21.50, about 23.6% above its October 29 closing price of $16.42

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)