Alexandria Real Estate Equities (NYSE:ARE) Hits New 1-Year Low – Here’s Why

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) hit a new 52-week low during trading on Monday . The company traded as low as $76.50 and last traded at $76.79, with a volume of 160463 shares changing hands. The stock had previously closed at $81.28.

Analysts Set New Price Targets

Several research firms recently weighed in on ARE. Jefferies Financial Group started coverage on Alexandria Real Estate Equities in a research report on Monday, March 17th. They set a “hold” rating and a $100.00 target price on the stock. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Royal Bank of Canada lowered their price target on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Finally, Wedbush restated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $118.60.

Alexandria Real Estate Equities Stock Down 4.3 %

The stock has a market cap of $13.47 billion, a PE ratio of 43.27, a P/E/G ratio of 3.93 and a beta of 1.24. The business has a 50 day moving average price of $96.73 and a 200 day moving average price of $104.37. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $1.48. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. Equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a yield of 6.78%. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several hedge funds and other institutional investors have recently modified their holdings of ARE. Agate Pass Investment Management LLC purchased a new stake in Alexandria Real Estate Equities during the 1st quarter valued at about $375,000. Versant Capital Management Inc boosted its holdings in shares of Alexandria Real Estate Equities by 174.8% during the 1st quarter. Versant Capital Management Inc now owns 2,047 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 1,302 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of Alexandria Real Estate Equities in the first quarter valued at approximately $259,000. Wellington Management Group LLP increased its holdings in shares of Alexandria Real Estate Equities by 33.9% in the fourth quarter. Wellington Management Group LLP now owns 36,713 shares of the real estate investment trust’s stock valued at $3,581,000 after purchasing an additional 9,295 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Alexandria Real Estate Equities by 146.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,236 shares of the real estate investment trust’s stock worth $1,096,000 after buying an additional 6,686 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

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.