Alexandria Real Estate Equities (NYSE:ARE) Hits New 52-Week Low – Here’s What Happened

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $93.25 and last traded at $93.79, with a volume of 41225 shares changing hands. The stock had previously closed at $94.96.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada cut their price target 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. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird lowered their price target 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. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price objective for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, 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 for the company in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities has an average rating of “Hold” and an average price target of $121.30.

Alexandria Real Estate Equities Stock Up 0.6 %

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 company has a market cap of $16.58 billion, a PE ratio of 53.21, a PEG ratio of 3.67 and a beta of 1.16. The company’s fifty day moving average is $99.08 and its 200-day moving average is $109.83.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, analysts predict that Alexandria Real Estate Equities, Inc. will post 9.34 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were 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 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Alexandria Real Estate Equities

Several large investors have recently added to or reduced their stakes in ARE. Catalyst Capital Advisors LLC bought a new position in Alexandria Real Estate Equities in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC raised its holdings in Alexandria Real Estate Equities by 57.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 109 shares during the period. Venturi Wealth Management LLC lifted its position 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 purchasing an additional 180 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Alexandria Real Estate Equities during the third quarter valued at about $43,000. 96.54% of the stock is currently owned by institutional investors.

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.