Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Steward Partners Investment Advisory LLC
Steward Partners Investment Advisory LLC cut its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 23.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,374 shares of the real estate investment trust’s stock after selling 1,010 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Alexandria Real Estate Equities were worth $329,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $30,000. Venturi Wealth Management LLC lifted its position in 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 valued at $36,000 after acquiring an additional 180 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Alexandria Real Estate Equities in the third quarter valued at $43,000. Loomis Sayles & Co. L P raised its holdings in shares of 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 buying an additional 532 shares during the last quarter. Finally, Spire Wealth Management increased its stake in shares of Alexandria Real Estate Equities by 72.5% during the fourth quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 250 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.
Alexandria Real Estate Equities Stock Performance
Shares of ARE stock opened at $96.59 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. Alexandria Real Estate Equities, Inc. has a 52 week low of $93.25 and a 52 week high of $130.14. The company has a market capitalization of $16.72 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17. The company’s 50 day moving average price is $98.23 and its two-hundred day moving average price is $107.46.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last released 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 net margin of 10.36% and a return on equity of 1.43%. On average, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.47%. Alexandria Real Estate Equities’s payout ratio is presently 293.33%.
Alexandria Real Estate Equities declared that its Board of Directors has approved a stock buyback program on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Wedbush reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. Royal Bank of Canada dropped their price target on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research report on Tuesday, December 17th. StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $121.30.
Read Our Latest Stock Analysis on Alexandria Real Estate Equities
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.
Further Reading
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