Spirit of America Management Corp NY Sells 500 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Spirit of America Management Corp NY lessened its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 9.3% during the 4th quarter, HoldingsChannel reports. The firm owned 4,850 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Spirit of America Management Corp NY’s holdings in Alexandria Real Estate Equities were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its stake in shares of Alexandria Real Estate Equities by 11,449.8% in 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 acquiring an additional 1,411,304 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Alexandria Real Estate Equities by 350.0% during the third quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock valued at $40,536,000 after acquiring an additional 265,508 shares during the period. Raymond James & Associates lifted its holdings in shares of Alexandria Real Estate Equities by 501.1% during the third quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust’s stock valued at $34,539,000 after acquiring an additional 242,466 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Alexandria Real Estate Equities by 114.9% in the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock valued at $51,706,000 after buying an additional 232,817 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Alexandria Real Estate Equities by 315.9% in the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock valued at $20,110,000 after buying an additional 128,634 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

ARE opened at $94.55 on Wednesday. The firm has a market cap of $16.37 billion, a P/E ratio of 52.53, a price-to-earnings-growth ratio of 3.69 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.80 and a 52-week high of $130.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. The business’s fifty day moving average is $100.99 and its 200-day moving average is $110.98.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. Sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 9.34 EPS for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $1.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. 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 5.58%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 293.33%.

Alexandria Real Estate Equities declared that its board has approved a stock repurchase plan on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

ARE has been the subject of a number of research reports. Robert W. Baird lowered their price objective 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. Evercore ISI decreased their price objective 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. Royal Bank of Canada cut their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus price target of $121.30.

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.