Community Trust & Investment Co. increased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,672 shares of the real estate investment trust’s stock after buying an additional 1,173 shares during the quarter. Community Trust & Investment Co.’s holdings in Alexandria Real Estate Equities were worth $2,504,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARE. State Street Corp lifted its holdings in shares of Alexandria Real Estate Equities by 1.1% during the 3rd quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock valued at $1,270,634,000 after purchasing an additional 112,864 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Alexandria Real Estate Equities by 0.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock worth $476,455,000 after purchasing an additional 35,216 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Alexandria Real Estate Equities by 3.1% during the 3rd 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 buying an additional 72,934 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 in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Alexandria Real Estate Equities by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock worth $122,934,000 after acquiring an additional 10,576 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on ARE shares. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. JMP Securities cut their price target on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a report on Friday, November 15th. Evercore ISI decreased their price objective on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, 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, December 17th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and a consensus price target of $121.90.
Alexandria Real Estate Equities Price Performance
NYSE:ARE opened at $97.77 on Wednesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $103.64 and a 200 day simple moving average of $113.11. Alexandria Real Estate Equities, Inc. has a 1-year low of $94.35 and a 1-year high of $130.14. The stock has a market capitalization of $17.09 billion, a PE ratio of 59.62, a P/E/G ratio of 3.87 and a beta of 1.16.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $766.97 million. During the same quarter in the prior year, the company earned $2.26 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.
Alexandria Real Estate Equities Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 321.95%.
Alexandria Real Estate Equities declared that its Board of Directors has approved a share buyback plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
About Alexandria Real Estate Equities
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.
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