California Public Employees Retirement System Sells 4,174 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

California Public Employees Retirement System decreased its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 292,208 shares of the real estate investment trust's stock after selling 4,174 shares during the period. California Public Employees Retirement System owned 0.17% of Alexandria Real Estate Equities worth $28,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its stake in Alexandria Real Estate Equities by 42.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 419,015 shares of the real estate investment trust's stock valued at $40,875,000 after purchasing an additional 125,370 shares during the last quarter. Allianz SE purchased a new stake in Alexandria Real Estate Equities in the fourth quarter valued at approximately $174,000. Intrust Bank NA purchased a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at $265,000. Allstate Corp acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth $2,008,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Alexandria Real Estate Equities by 3.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 251,455 shares of the real estate investment trust's stock worth $24,529,000 after buying an additional 9,199 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several equities analysts have recently weighed in on ARE shares. 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. Jefferies Financial Group assumed coverage on Alexandria Real Estate Equities in a report on Monday, March 17th. They issued a "hold" rating and a $100.00 price target for the company. JMP Securities restated a "market outperform" rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada dropped their target price on 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. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $118.60.

Alexandria Real Estate Equities Stock Performance

ARE stock traded down $4.93 during trading on Friday, hitting $81.32. 2,673,680 shares of the company's stock traded hands, compared to its average volume of 1,108,706. 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, Inc. has a 52 week low of $81.20 and a 52 week high of $130.14. The stock has a fifty day moving average price of $96.73 and a two-hundred day moving average price of $104.65. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 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%. As a group, equities analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.32 per share. The ex-dividend date is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a yield of 6.49%. Alexandria Real Estate Equities's payout ratio is presently 293.33%.

Alexandria Real Estate Equities declared that its board has approved 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Alexandria Real Estate Equities Company 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.