Retirement Systems of Alabama Decreases Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Retirement Systems of Alabama decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 124,372 shares of the real estate investment trust’s stock after selling 1,842 shares during the quarter. Retirement Systems of Alabama’s holdings in Alexandria Real Estate Equities were worth $14,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its stake in 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 acquiring an additional 112,864 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Alexandria Real Estate Equities by 0.9% in the second quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock valued at $476,455,000 after purchasing an additional 35,216 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alexandria Real Estate Equities by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock valued at $291,045,000 after purchasing an additional 72,934 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Alexandria Real Estate Equities by 11,449.8% during the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock worth $169,056,000 after buying an additional 1,411,304 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in 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 buying an additional 10,576 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Trading Down 0.0 %

ARE opened at $102.66 on Monday. Alexandria Real Estate Equities, Inc. has a 52 week low of $101.39 and a 52 week high of $135.45. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $111.47 and a 200-day simple moving average of $115.88. The firm has a market cap of $17.94 billion, a P/E ratio of 62.60, a P/E/G ratio of 3.87 and a beta of 1.14.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 earnings per share. On average, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

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

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.32 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a yield of 5.14%. The ex-dividend date is Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio is presently 317.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JMP Securities cut their target price 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. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. 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 on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $133.00 to $121.00 in a report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average target price of $125.82.

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.