ALEXANDER & BALDWIN, INC. (NYSE:ALEX) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.
On September 14, 2017, Alexander & Baldwin, Inc. (the “Company”) hosted its Analyst Day. During the event, the Company inadvertently stated that the annual net operating income (“NOI”) contribution from the seven commercial properties the Company owns on the mainland was roughly $5.6 million. The annualized cash NOI contribution from mainland commercial assets is $11 million, as indicated in the Company’s Updated Supplemental Information, which was furnished in the Company’s Form 8-K, dated September 11, 2017.
About ALEXANDER & BALDWIN, INC. (NYSE:ALEX)
Alexander & Baldwin, Inc. (A&B) is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Company operates in four segments: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. Real estate activities are conducted through A&B Properties, Inc. and other subsidiaries of A&B. The Real Estate Development and Sales segment is engaged in program of land stewardship, planning, entitlement, development, real estate investment, and sale of land and commercial and residential properties. The Real Estate Leasing segment owns, operates and manages a portfolio of over 60 retail, office and industrial properties in Hawaii and on the Mainland. The Materials and Construction segment performs asphalt paving as prime contractor and subcontractor. The Agribusiness segment consists of sugar plantation on the island of Maui, operated by its Hawaiian Commercial & Sugar Company (HC&S) division.