Bank of New York Mellon Corp Decreases Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of New York Mellon Corp trimmed its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,146,128 shares of the real estate investment trust's stock after selling 12,505 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Alexandria Real Estate Equities worth $111,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARE. Catalyst Capital Advisors LLC bought a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Alexandria Real Estate Equities in the third quarter worth $30,000. Venturi Wealth Management LLC raised its stake in shares of Alexandria Real Estate Equities by 144.0% in the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 180 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $43,000. Finally, Spire Wealth Management lifted its position in shares of Alexandria Real Estate Equities by 72.5% during the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 250 shares during the last quarter. 96.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARE. 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 note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and lowered their price target for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Wedbush reaffirmed a "neutral" rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. JMP Securities reissued a "market outperform" rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of "Hold" and a consensus target price of $121.30.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock traded down $0.87 during midday trading on Monday, hitting $101.39. 1,177,069 shares of the company's stock were exchanged, compared to its average volume of 1,350,679. The company has a market cap of $17.55 billion, a P/E ratio of 56.33, a PEG ratio of 3.93 and a beta of 1.16. 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 stock has a 50-day moving average price of $97.94 and a two-hundred day moving average price of $108.26. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 1.43% and a net margin of 10.36%. On average, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The business 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 dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 5.21%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is currently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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.