20,583 Shares in Alexandria Real Estate Equities, Inc. (NYSE:ARE) Acquired by Allstate Corp

Allstate Corp purchased a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 20,583 shares of the real estate investment trust’s stock, valued at approximately $2,008,000.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at $1,605,426,000. JPMorgan Chase & Co. increased its stake in Alexandria Real Estate Equities by 212.9% in the 4th quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust’s stock worth $806,337,000 after buying an additional 5,624,163 shares in the last quarter. PGGM Investments raised its holdings in Alexandria Real Estate Equities by 3,602.0% during the fourth quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock valued at $93,537,000 after acquiring an additional 932,956 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at about $34,170,000. Finally, Analyst IMS Investment Management Services Ltd. lifted its position in shares of Alexandria Real Estate Equities by 170.1% in the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 486,103 shares of the real estate investment trust’s stock valued at $47,419,000 after acquiring an additional 306,145 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors.

Alexandria Real Estate Equities Stock Down 0.1 %

Shares of NYSE ARE opened at $95.58 on Friday. 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 12-month low of $93.25 and a 12-month high of $130.14. The firm’s 50-day moving average price is $98.01 and its 200-day moving average price is $105.71. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 53.10, a P/E/G ratio of 3.93 and a beta of 1.17.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Monday, March 31st. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Analyst Ratings Changes

Several research firms recently issued reports on ARE. Wedbush reiterated a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Royal Bank of Canada dropped 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. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They set a “hold” rating and a $100.00 target price for the company. Finally, StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.60.

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.