Advocate Group LLC Purchases 1,929 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Advocate Group LLC raised its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,937 shares of the real estate investment trust’s stock after acquiring an additional 1,929 shares during the quarter. Advocate Group LLC’s holdings in Alexandria Real Estate Equities were worth $3,018,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Alexandria Real Estate Equities by 4.6% in the second quarter. Pacer Advisors Inc. now owns 11,068 shares of the real estate investment trust’s stock worth $1,295,000 after buying an additional 490 shares in the last quarter. Sei Investments Co. increased its position in Alexandria Real Estate Equities by 4.3% in the second quarter. Sei Investments Co. now owns 14,095 shares of the real estate investment trust’s stock worth $1,649,000 after buying an additional 581 shares in the last quarter. ProShare Advisors LLC increased its position in Alexandria Real Estate Equities by 11.0% in the second quarter. ProShare Advisors LLC now owns 29,192 shares of the real estate investment trust’s stock worth $3,415,000 after buying an additional 2,883 shares in the last quarter. Public Sector Pension Investment Board increased its position in Alexandria Real Estate Equities by 20.2% in the second quarter. Public Sector Pension Investment Board now owns 21,856 shares of the real estate investment trust’s stock worth $2,556,000 after buying an additional 3,673 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Alexandria Real Estate Equities by 38.2% in the second quarter. Bank of Montreal Can now owns 312,790 shares of the real estate investment trust’s stock worth $36,434,000 after buying an additional 86,519 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Trading Up 1.1 %

Shares of NYSE:ARE opened at $101.56 on Friday. Alexandria Real Estate Equities, Inc. has a 12-month low of $94.35 and a 12-month high of $130.14. The business’s fifty day simple moving average is $102.13 and its 200-day simple moving average is $112.29. 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 company has a market capitalization of $17.75 billion, a PE ratio of 61.92, a P/E/G ratio of 3.85 and a beta of 1.16.

Alexandria Real Estate Equities declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 5.20%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is 321.95%.

Wall Street Analyst Weigh In

A number of analysts have commented on ARE shares. 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. Wedbush reiterated an “outperform” rating and set 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. JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. JMP Securities lowered their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.90.

Alexandria Real Estate Equities 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.