HighTower Advisors LLC Decreases Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

HighTower Advisors LLC lowered its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 92.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,662 shares of the real estate investment trust's stock after selling 223,081 shares during the period. HighTower Advisors LLC's holdings in Alexandria Real Estate Equities were worth $1,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AGF Management Ltd. increased its holdings in Alexandria Real Estate Equities by 20.2% in the 4th quarter. AGF Management Ltd. now owns 38,299 shares of the real estate investment trust's stock worth $3,736,000 after acquiring an additional 6,432 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Alexandria Real Estate Equities by 1.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 73,641 shares of the real estate investment trust's stock valued at $7,184,000 after acquiring an additional 1,212 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Alexandria Real Estate Equities by 17.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 170,606 shares of the real estate investment trust's stock worth $16,643,000 after purchasing an additional 24,926 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Alexandria Real Estate Equities during the fourth quarter valued at about $806,000. Finally, Amundi increased its holdings in Alexandria Real Estate Equities by 8.8% in the 4th quarter. Amundi now owns 876,650 shares of the real estate investment trust's stock valued at $85,417,000 after purchasing an additional 70,553 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company's stock.

Remove Ads

Analysts Set New Price Targets

ARE has been the topic of a number of recent research reports. StockNews.com lowered shares of Alexandria Real Estate Equities from a "hold" rating to a "sell" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Wedbush restated a "neutral" rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. 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 for the company. Finally, Royal Bank of Canada decreased their price target on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a "sector perform" rating for the company in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $118.60.

Alexandria Real Estate Equities Price Performance

ARE traded down $0.39 on Thursday, hitting $95.74. 902,687 shares of the company were exchanged, compared to its average volume of 1,282,934. The business's fifty day moving average is $98.22 and its 200 day moving average is $106.04. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $93.25 and a fifty-two week 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. The firm has a market capitalization of $16.57 billion, a P/E ratio of 53.19, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17.

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

Alexandria Real Estate Equities declared that its board has authorized a share buyback program 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 buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Alexandria Real Estate Equities Announces Dividend

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 given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities's dividend payout ratio is presently 293.33%.

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.