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Investment Thesis
Alexander & Baldwin, Inc. (ALEX) is a real estate investment trust and the largest owner of grocery- and pharmacy-anchored retail centers in the state of Hawaii. The REIT owns 22 shopping centers, 10 industrial facilities, four office properties, and 154 acres of ground leases. A&B's core assets (real estate) comprise approximately 75% of its total assets, with its non-core assets comprised of renewable energy