PNC Financial Services Group Inc. Lowers Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

PNC Financial Services Group Inc. reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,890 shares of the real estate investment trust’s stock after selling 15,410 shares during the period. PNC Financial Services Group Inc.’s holdings in Alexandria Real Estate Equities were worth $12,768,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ARE. Raymond James Financial Inc. purchased a new stake in shares of Alexandria Real Estate Equities in the fourth quarter valued at approximately $34,170,000. National Bank of Canada FI lifted its holdings in shares of Alexandria Real Estate Equities by 350.0% in the 3rd quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock worth $40,536,000 after buying an additional 265,508 shares during the period. BNP Paribas Financial Markets grew its position in shares of Alexandria Real Estate Equities by 114.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock worth $51,706,000 after buying an additional 232,817 shares in the last quarter. KBC Group NV increased its stake in shares of Alexandria Real Estate Equities by 315.9% during 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 period. Finally, Castle Hook Partners LP bought a new stake in shares of Alexandria Real Estate Equities in the third quarter valued at about $14,319,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Down 2.8 %

Alexandria Real Estate Equities stock opened at $99.32 on Wednesday. Alexandria Real Estate Equities, Inc. has a 1-year low of $93.25 and a 1-year high of $130.14. The business has a fifty day moving average price of $98.23 and a 200-day moving average price of $107.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 55.18, a PEG ratio of 3.93 and a beta of 1.17.

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 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%. Equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Royal Bank of Canada lowered their target price on 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. Finally, Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the company from $135.00 to $112.00 in a report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.