Alexandria Real Estate Equities (NYSE:ARE) Trading Down 3.9% – Here’s What Happened

Alexandria Real Estate Equities, Inc. (NYSE:ARE)’s share price fell 3.9% on Tuesday . The stock traded as low as $99.19 and last traded at $98.09. 162,206 shares traded hands during trading, a decline of 87% from the average session volume of 1,269,505 shares. The stock had previously closed at $102.11.

Analyst Ratings Changes

Several research analysts recently issued reports on ARE shares. Royal Bank of Canada cut 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 report on Tuesday, December 17th. StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $112.00 in a report on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday. Finally, Wedbush reissued a “neutral” rating and issued a $104.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Stock Performance

The business’s fifty day moving average price is $101.76 and its 200-day moving average price is $111.75. The stock has a market cap of $17.07 billion, a PE ratio of 59.38, a P/E/G ratio of 3.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. As a group, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 5.40%. 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 is 321.95%.

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

Institutional Investors Weigh In On Alexandria Real Estate Equities

Large investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC grew 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 valued at $169,056,000 after purchasing an additional 1,411,304 shares during the period. National Bank of Canada FI increased its stake in Alexandria Real Estate Equities by 350.0% in the 3rd quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock worth $40,536,000 after acquiring an additional 265,508 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Alexandria Real Estate Equities by 501.1% in the 3rd quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust’s stock worth $34,539,000 after buying an additional 242,466 shares during the last quarter. BNP Paribas Financial Markets increased its position in Alexandria Real Estate Equities by 114.9% during the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock valued at $51,706,000 after acquiring an additional 232,817 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Alexandria Real Estate Equities by 315.9% in the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock worth $20,110,000 after buying an additional 128,634 shares during the period. 96.54% of the stock is currently 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.