Korea Investment CORP Grows Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Korea Investment CORP raised its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 66.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 85,855 shares of the real estate investment trust's stock after acquiring an additional 34,424 shares during the period. Korea Investment CORP's holdings in Alexandria Real Estate Equities were worth $8,375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Fulton Bank N.A. grew its position in Alexandria Real Estate Equities by 77.7% during the fourth quarter. Fulton Bank N.A. now owns 16,165 shares of the real estate investment trust's stock valued at $1,577,000 after buying an additional 7,070 shares during the period. Magnetar Financial LLC bought a new position in shares of Alexandria Real Estate Equities during the 4th quarter valued at approximately $968,000. Hahn Capital Management LLC raised its stake in Alexandria Real Estate Equities by 50.4% during the 4th quarter. Hahn Capital Management LLC now owns 68,370 shares of the real estate investment trust's stock worth $6,669,000 after acquiring an additional 22,926 shares during the period. CCLA Investment Management lifted its holdings in Alexandria Real Estate Equities by 4.0% during the fourth quarter. CCLA Investment Management now owns 841,435 shares of the real estate investment trust's stock valued at $82,023,000 after purchasing an additional 32,367 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Alexandria Real Estate Equities by 5.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust's stock worth $88,140,000 after purchasing an additional 42,825 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

ARE has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of 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. Jefferies Financial Group began coverage on Alexandria Real Estate Equities in a research report on Monday, March 17th. They issued a "hold" rating and a $100.00 price target for the company. Wedbush reaffirmed a "neutral" rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. StockNews.com raised shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, JMP Securities reiterated a "market outperform" rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a 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 stock. According to MarketBeat, Alexandria Real Estate Equities currently has an average rating of "Hold" and a consensus target price of $118.60.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE traded down $2.75 during midday trading on Friday, reaching $83.50. The company's stock had a trading volume of 1,489,736 shares, compared to its average volume of 1,100,160. Alexandria Real Estate Equities, Inc. has a twelve month low of $81.38 and a twelve month high of $130.14. The firm has a market capitalization of $14.45 billion, a PE ratio of 46.47, a P/E/G ratio of 3.93 and a beta of 1.24. The stock has a fifty day moving average of $97.14 and a 200 day moving average of $104.95. 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 - Get Free Report) last posted its 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 net margin of 10.36% and a return on equity of 1.43%. On average, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities's dividend payout ratio is currently 293.33%.

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

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.