Retirement Systems of Alabama Sells 661 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Retirement Systems of Alabama decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,711 shares of the real estate investment trust’s stock after selling 661 shares during the quarter. Retirement Systems of Alabama’s holdings in Alexandria Real Estate Equities were worth $12,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its position in shares of Alexandria Real Estate Equities by 8.5% in the third quarter. Park Avenue Securities LLC now owns 3,504 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 275 shares in the last quarter. Czech National Bank grew its holdings in Alexandria Real Estate Equities by 5.7% during the 3rd quarter. Czech National Bank now owns 31,714 shares of the real estate investment trust’s stock valued at $3,766,000 after buying an additional 1,721 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Alexandria Real Estate Equities by 36.0% during the third quarter. GAMMA Investing LLC now owns 1,923 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 509 shares during the period. CWM LLC lifted its holdings in shares of Alexandria Real Estate Equities by 15.5% in the third quarter. CWM LLC now owns 5,225 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 703 shares in the last quarter. Finally, Sarasin & Partners LLP boosted its position in shares of Alexandria Real Estate Equities by 7.8% in the third quarter. Sarasin & Partners LLP now owns 45,256 shares of the real estate investment trust’s stock valued at $5,374,000 after acquiring an additional 3,257 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reduced 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 research report on Tuesday, December 17th. Evercore ISI lowered their price target on 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. Robert W. Baird cut their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.30.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $95.97 on Friday. The company has a 50-day simple moving average of $100.10 and a two-hundred day simple moving average of $110.57. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.80 and a 12-month high of $130.14. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 3.69 and a beta of 1.16. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55.

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

Alexandria Real Estate Equities announced that its Board of Directors has initiated a share repurchase 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 buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 5.50%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is presently 293.33%.

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.