Alexandria Real Estate Equities (NYSE:ARE) Stock Price Down 3.9% - Here's What Happened

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Get Free Report) dropped 3.9% during trading on Tuesday . The company traded as low as $99.19 and last traded at $98.09. Approximately 162,206 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,269,505 shares. The stock had previously closed at $102.11.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Alexandria Real Estate Equities from a "hold" rating to a "sell" rating in a research note on Wednesday. JMP Securities restated a "market outperform" rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday. Wedbush reiterated a "neutral" rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday. Finally, Evercore ISI dropped their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of "Hold" and an average price target of $121.30.

Alexandria Real Estate Equities Trading Up 1.0 %

The company's fifty day moving average price is $101.55 and its two-hundred day moving average price is $111.64. The company has a quick ratio of 0.20, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 3.64 and a beta of 1.16.

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 earnings per share for the quarter, beating analysts' consensus estimates 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%. Research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 5.45%. The ex-dividend date was Tuesday, December 31st. This is a boost from Alexandria Real Estate Equities's previous quarterly dividend of $1.30. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has initiated 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Institutional Trading of Alexandria Real Estate Equities

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Alexandria Real Estate Equities by 1.1% in the 3rd quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust's stock valued at $1,270,634,000 after buying an additional 112,864 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alexandria Real Estate Equities by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust's stock worth $291,045,000 after purchasing an additional 72,934 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Alexandria Real Estate Equities by 11,449.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust's stock valued at $169,056,000 after purchasing an additional 1,411,304 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Alexandria Real Estate Equities by 5.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust's stock worth $88,140,000 after buying an additional 42,825 shares during the period. Finally, CCLA Investment Management raised its stake in shares of 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 worth $82,023,000 after buying an additional 32,367 shares during the last quarter. 96.54% of the stock is owned by institutional investors.

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.