Alexandria Real Estate Equities (NYSE:ARE) Reaches New 52-Week Low – Here’s What Happened

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $94.35 and last traded at $97.77, with a volume of 1655837 shares changing hands. The stock had previously closed at $94.99.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in 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. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Robert W. Baird lowered their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Evercore ISI reduced their target price on 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. Finally, Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $112.00 in a research report 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $121.90.

Alexandria Real Estate Equities Stock Performance

The company’s fifty day moving average is $103.64 and its 200 day moving average is $113.11. The company has a market cap of $17.22 billion, a P/E ratio of 60.08, a price-to-earnings-growth ratio of 3.87 and a beta of 1.16. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56.

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

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a dividend yield of 5.36%. Alexandria Real Estate Equities’s payout ratio is 321.95%.

Alexandria Real Estate Equities announced that its board has authorized a stock repurchase 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 buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Large investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new stake in Alexandria Real Estate Equities in the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Alexandria Real Estate Equities during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC raised its holdings in Alexandria Real Estate Equities by 144.0% in the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 180 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Alexandria Real Estate Equities during the third quarter valued at $43,000. Finally, M&R Capital Management Inc. bought a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $50,000. Institutional investors own 96.54% of the company’s stock.

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.