A&B reports $47M profit for Q1


Hawaii’s Alexander & Baldwin posted net income of $47.4 million, or 66 cents per diluted share, for the first quarter, compared to net income of $7 million or 14 cents per diluted share, for the same quarter last year.

Honolulu-based Alexander & Baldwin (NYSE: ALEX) closed on the sale of six Mainland properties during the quarter for a total of $159.2 million, the proceeds of which were used to finance the real estate investment trust’s purchase of three shopping centers from Terramar Retail…

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