Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 7.1% in the third quarter, HoldingsChannel.com reports. The fund owned 11,478 shares of the real estate investment trust’s stock after selling 875 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Alexandria Real Estate Equities were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in Alexandria Real Estate Equities by 67.3% during the 3rd quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust’s stock valued at $4,427,000 after purchasing an additional 14,992 shares during the period. Pathway Financial Advisers LLC lifted its stake in Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after buying an additional 1,411,304 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Alexandria Real Estate Equities by 10.0% during the third quarter. Natixis Advisors LLC now owns 120,098 shares of the real estate investment trust’s stock valued at $14,262,000 after acquiring an additional 10,917 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Alexandria Real Estate Equities by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock worth $291,045,000 after acquiring an additional 72,934 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Alexandria Real Estate Equities by 117.7% in the 2nd quarter. National Bank of Canada FI now owns 75,849 shares of the real estate investment trust’s stock worth $8,784,000 after acquiring an additional 41,002 shares during the period. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Stock Up 0.9 %

ARE stock opened at $102.33 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $17.88 billion, a P/E ratio of 62.40, a P/E/G ratio of 3.87 and a beta of 1.14. Alexandria Real Estate Equities, Inc. has a 52-week low of $100.40 and a 52-week high of $131.82. The company’s 50 day simple moving average is $111.00 and its 200-day simple moving average is $115.66.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same quarter in the previous year, the company earned $2.26 EPS. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.32 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 dividend on an annualized basis and a yield of 5.16%. Alexandria Real Estate Equities’s payout ratio is presently 321.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $110.00 target price (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research report on Friday, December 6th. Royal Bank of Canada reduced their price target on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $133.00 to $121.00 in a report on Wednesday, November 27th. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Finally, Evercore ISI decreased their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average price target of $124.82.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.