New York State Teachers Retirement System Boosts Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

New York State Teachers Retirement System increased its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,301 shares of the real estate investment trust's stock after acquiring an additional 21,464 shares during the period. New York State Teachers Retirement System owned about 0.09% of Alexandria Real Estate Equities worth $14,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARE. CWM LLC raised its stake in shares of Alexandria Real Estate Equities by 15.5% in the third quarter. CWM LLC now owns 5,225 shares of the real estate investment trust's stock worth $620,000 after purchasing an additional 703 shares during the last quarter. Creative Planning increased its holdings in Alexandria Real Estate Equities by 14.5% in the 3rd quarter. Creative Planning now owns 15,415 shares of the real estate investment trust's stock worth $1,830,000 after buying an additional 1,947 shares in the last quarter. NBC Securities Inc. raised its position in Alexandria Real Estate Equities by 9.7% in the 3rd quarter. NBC Securities Inc. now owns 1,475 shares of the real estate investment trust's stock worth $175,000 after buying an additional 130 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Alexandria Real Estate Equities by 89.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,361 shares of the real estate investment trust's stock valued at $399,000 after acquiring an additional 1,590 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Alexandria Real Estate Equities by 1.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,000 shares of the real estate investment trust's stock valued at $5,938,000 after acquiring an additional 730 shares during the last quarter. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock traded up $0.26 during trading hours on Thursday, reaching $95.57. 1,285,427 shares of the company traded hands, compared to its average volume of 1,369,689. The firm has a 50-day moving average price of $98.13 and a 200 day moving average price of $109.09. The company has a market cap of $16.54 billion, a P/E ratio of 53.09, a P/E/G ratio of 3.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.25 and a 12-month high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results 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 net margin of 10.36% and a return on equity of 1.43%. As a group, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.33 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.32 dividend. This is a positive change from Alexandria Real Estate Equities's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.52%. Alexandria Real Estate Equities's dividend payout ratio is 293.33%.

Wall Street Analyst Weigh In

ARE has been the subject of several research reports. JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $133.00 to $121.00 in a report on Wednesday, November 27th. Royal Bank of Canada decreased their target price 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. Wedbush restated a "neutral" rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $121.30.

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.