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Mar 31, 2022
Alexander & Baldwin Q1 2022 Earnings Report
Achieved a 17% increase in Same-Store NOI and a 38% increase in Core FFO per share over the prior year quarter.
Key Takeaways
Alexander & Baldwin reported strong Q1 2022 results, driven by exceptional performance in its commercial real estate business. Tenant performance improved, leading to strong tenant collections and robust leasing demand. The company also made progress on its strategic agenda by capitalizing on the favorable market for Hawai‘i real estate and monetizing non-CRE assets.
Commercial real estate revenue increased by 15.5% compared to the same quarter of 2021.
Same-Store NOI increased by 17.0% compared to the same quarter of 2021.
Overall leased occupancy was 94.5% as of March 31, 2022, an increase of 70 basis points compared to March 31, 2021.
The company revised its annual 2022 guidance to reflect its improved outlook.
Revenue by Segment
Forward Guidance
The Company revised its annual 2022 guidance to reflect its improved outlook.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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