Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 101,306 shares of the real estate investment trust’s stock after selling 1,228 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alexandria Real Estate Equities were worth $9,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARE. Catalyst Capital Advisors LLC acquired a new stake in Alexandria Real Estate Equities during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Alexandria Real Estate Equities during the third quarter worth about $30,000. Venturi Wealth Management LLC increased its holdings in Alexandria Real Estate Equities by 144.0% during the 3rd 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Alexandria Real Estate Equities in the third quarter worth $43,000. Finally, Loomis Sayles & Co. L P raised its holdings in Alexandria Real Estate Equities by 3,129.4% in the third quarter. Loomis Sayles & Co. L P now owns 549 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 532 shares in the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE opened at $96.49 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $100.38 and its two-hundred day moving average is $110.67. The firm has a market capitalization of $16.70 billion, a P/E ratio of 53.61, a PEG 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.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating 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%. Analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.32 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.28 annualized dividend and a yield of 5.47%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio is presently 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share repurchase program on Monday, December 9th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Royal Bank of Canada decreased their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Evercore ISI dropped 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. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird dropped their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.30.

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.