Intact Investment Management Inc. Sells 4,830 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Intact Investment Management Inc. decreased its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 45,300 shares of the real estate investment trust’s stock after selling 4,830 shares during the quarter. Intact Investment Management Inc.’s holdings in Alexandria Real Estate Equities were worth $4,419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in Alexandria Real Estate Equities by 40.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,029 shares of the real estate investment trust’s stock worth $1,076,000 after buying an additional 3,176 shares during the last quarter. PGGM Investments lifted its position in Alexandria Real Estate Equities by 3,602.0% in the 4th quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock worth $93,537,000 after buying an additional 932,956 shares during the last quarter. Vestcor Inc lifted its position in Alexandria Real Estate Equities by 41.2% in the fourth quarter. Vestcor Inc now owns 40,871 shares of the real estate investment trust’s stock valued at $3,987,000 after purchasing an additional 11,934 shares during the last quarter. Truvestments Capital LLC lifted its position in Alexandria Real Estate Equities by 6.8% in the fourth quarter. Truvestments Capital LLC now owns 24,229 shares of the real estate investment trust’s stock valued at $2,363,000 after purchasing an additional 1,553 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Alexandria Real Estate Equities by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 96.54% of the company’s stock.

Analyst Ratings Changes

ARE has been the subject of several recent research reports. Royal Bank of Canada lowered their price objective on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.30.

Alexandria Real Estate Equities Price Performance

Shares of Alexandria Real Estate Equities stock opened at $99.30 on Friday. 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 $17.19 billion, a PE ratio of 55.17, a P/E/G ratio of 3.93 and a beta of 1.17. The business has a 50 day moving average of $98.24 and a 200 day moving average of $107.30. Alexandria Real Estate Equities, Inc. has a 52 week low of $93.25 and a 52 week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results 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%. As a group, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

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

Alexandria Real Estate Equities announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually 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.