Truist Financial Corp Has $6.92 Million Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Truist Financial Corp increased its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,910 shares of the real estate investment trust's stock after buying an additional 10,002 shares during the quarter. Truist Financial Corp's holdings in Alexandria Real Estate Equities were worth $6,917,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ARE. State Street Corp increased its holdings in Alexandria Real Estate Equities by 1.1% in the third 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. grew its stake in shares of Alexandria Real Estate Equities by 3.1% during the 3rd 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 position 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 purchasing an additional 1,411,304 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 purchasing an additional 42,825 shares during the last quarter. Finally, CCLA Investment Management grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Price Performance

ARE stock traded down $1.47 during midday trading on Wednesday, reaching $99.46. The stock had a trading volume of 310,052 shares, compared to its average volume of 1,334,068. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14. The company's fifty day simple moving average is $97.73 and its 200 day simple moving average is $108.61. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 55.23, a price-to-earnings-growth ratio of 3.93 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS 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 predict that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend 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 is currently 293.33%.

Alexandria Real Estate Equities declared that its board has authorized a stock buyback plan on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARE. Wedbush restated a "neutral" rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Royal Bank of Canada cut their price target on Alexandria Real Estate Equities from $125.00 to $114.00 and set a "sector perform" rating for the company in a report on Tuesday, December 17th. Robert W. Baird decreased their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and cut their target price for the company from $135.00 to $112.00 in a research note on Friday, November 15th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $121.30.

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.