PNC Financial Services Group Inc. Sells 15,410 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

PNC Financial Services Group Inc. decreased its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,890 shares of the real estate investment trust’s stock after selling 15,410 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Alexandria Real Estate Equities worth $12,768,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. boosted its stake in Alexandria Real Estate Equities by 35.0% in the 3rd quarter. Assetmark Inc. now owns 37,691 shares of the real estate investment trust’s stock worth $4,476,000 after purchasing an additional 9,763 shares during the period. Atria Investments Inc lifted its holdings in shares of Alexandria Real Estate Equities by 33.2% in the third quarter. Atria Investments Inc now owns 30,262 shares of the real estate investment trust’s stock worth $3,594,000 after buying an additional 7,551 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Alexandria Real Estate Equities during the third quarter worth $30,000. Venturi Wealth Management LLC grew its stake in Alexandria Real Estate Equities by 144.0% during the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 180 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Alexandria Real Estate Equities by 29.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,553 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 587 shares during the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARE. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada reduced 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 research report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus price target of $121.30.

Alexandria Real Estate Equities Trading Down 2.8 %

ARE stock opened at $99.32 on Wednesday. Alexandria Real Estate Equities, Inc. has a twelve month low of $93.25 and a twelve month high of $130.14. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $98.23 and its two-hundred day simple moving average is $107.60.

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

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.32%. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Alexandria Real Estate Equities declared that its board has initiated a share buyback plan 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 buy up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities Company 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.