Citigroup Inc. Sells 35,568 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Citigroup Inc. reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,899 shares of the real estate investment trust's stock after selling 35,568 shares during the period. Citigroup Inc. owned 0.13% of Alexandria Real Estate Equities worth $26,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its holdings in Alexandria Real Estate Equities by 0.9% during the second quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust's stock worth $476,455,000 after acquiring an additional 35,216 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Alexandria Real Estate Equities by 3.1% during 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 acquiring an additional 72,934 shares in the last quarter. M&G Plc lifted its holdings in Alexandria Real Estate Equities by 4.9% during the second quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust's stock worth $194,114,000 after acquiring an additional 77,686 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Alexandria Real Estate Equities by 11,449.8% during the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust's stock worth $169,056,000 after acquiring an additional 1,411,304 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Alexandria Real Estate Equities by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust's stock worth $122,934,000 after acquiring an additional 10,576 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors.

Alexandria Real Estate Equities Stock Performance

Alexandria Real Estate Equities stock traded down $0.28 during midday trading on Tuesday, reaching $111.76. 1,134,849 shares of the company's stock were exchanged, compared to its average volume of 1,005,425. Alexandria Real Estate Equities, Inc. has a 52 week low of $102.89 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market cap of $19.53 billion, a price-to-earnings ratio of 68.15, a P/E/G ratio of 4.06 and a beta of 1.16. The stock's 50-day simple moving average is $115.07 and its 200 day simple moving average is $117.23.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The business had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. During the same quarter in the previous year, the business posted $2.26 EPS. The company's revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Monday, September 30th. Alexandria Real Estate Equities's payout ratio is currently 317.07%.

Analyst Ratings Changes

Several research analysts have weighed in on ARE shares. Citigroup lowered Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Royal Bank of Canada reiterated a "sector perform" rating and set a $125.00 target price (down from $130.00) on shares of Alexandria Real Estate Equities in a report on Thursday, October 24th. JMP Securities dropped their price target on Alexandria Real Estate Equities from $140.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, November 15th. BMO Capital Markets raised Alexandria Real Estate Equities to a "hold" rating in a research note on Wednesday, September 25th. Finally, Wedbush dropped their price target on Alexandria Real Estate Equities from $130.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and three 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 $127.30.

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.