Allstate Corp Acquires Shares of 20,583 Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Allstate Corp bought a new stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,583 shares of the real estate investment trust's stock, valued at approximately $2,008,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARE. Proficio Capital Partners LLC acquired a new position in Alexandria Real Estate Equities during the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $29,000 after acquiring an additional 109 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Alexandria Real Estate Equities during the 3rd quarter worth about $43,000. Spire Wealth Management raised its holdings in shares of Alexandria Real Estate Equities by 72.5% in the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 250 shares during the period. Finally, Private Trust Co. NA raised its holdings in shares of Alexandria Real Estate Equities by 113.6% in the 3rd quarter. Private Trust Co. NA now owns 596 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 317 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Trading Down 4.3 %

Shares of Alexandria Real Estate Equities stock traded down $4.01 on Thursday, hitting $88.32. The stock had a trading volume of 421,147 shares, compared to its average volume of 1,091,212. The stock has a 50 day moving average of $97.42 and a 200 day moving average of $105.08. The firm has a market capitalization of $15.29 billion, a P/E ratio of 49.07, a PEG ratio of 3.93 and a beta of 1.24. Alexandria Real Estate Equities, Inc. has a twelve month low of $87.14 and a twelve month high of $130.14. 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 (NYSE:ARE - Get Free Report) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, beating 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%. Sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its board has approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.98%. Alexandria Real Estate Equities's dividend payout ratio is 293.33%.

Analysts Set New Price Targets

ARE has been the subject of several research analyst reports. Wedbush reiterated a "neutral" rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a "sector perform" rating on the stock in a report on Tuesday, December 17th. StockNews.com cut shares of Alexandria Real Estate Equities from a "hold" rating to a "sell" rating in a research note on Monday, March 17th. JMP Securities reiterated a "market outperform" rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group started coverage on Alexandria Real Estate Equities in a research report on Monday, March 17th. They issued a "hold" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $118.60.

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.