Resources Management Corp CT ADV Cuts Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Resources Management Corp CT ADV reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 6.7% during the third quarter, HoldingsChannel reports. The fund owned 2,019 shares of the real estate investment trust’s stock after selling 145 shares during the period. Resources Management Corp CT ADV’s holdings in Alexandria Real Estate Equities were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC bought a new position in shares of Alexandria Real Estate Equities during the third quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Alexandria Real Estate Equities in the third quarter valued at about $30,000. UMB Bank n.a. lifted its holdings in Alexandria Real Estate Equities by 132.8% in the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC bought a new position in shares of Alexandria Real Estate Equities in the second quarter worth about $33,000. Finally, Venturi Wealth Management LLC raised its stake in shares of 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 buying an additional 180 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARE. Evercore ISI decreased their price objective on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 target price (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their target price for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Robert W. Baird cut their target price on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.82.

Alexandria Real Estate Equities Price Performance

Shares of Alexandria Real Estate Equities stock opened at $104.48 on Wednesday. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 63.71, a price-to-earnings-growth ratio of 3.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a 50 day moving average price of $112.48 and a 200-day moving average price of $116.27. Alexandria Real Estate Equities, Inc. has a one year low of $102.89 and a one year high of $135.45.

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

Alexandria Real Estate Equities declared that its Board of Directors has initiated a share buyback 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 dividend on an annualized basis and a yield of 5.05%. Alexandria Real Estate Equities’s payout ratio is 317.07%.

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.