Zions Bancorporation N.A. Increases Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Zions Bancorporation N.A. lifted its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 67.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,530 shares of the real estate investment trust’s stock after acquiring an additional 20,276 shares during the quarter. Zions Bancorporation N.A.’s holdings in Alexandria Real Estate Equities were worth $4,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Alexandria Real Estate Equities by 57.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 109 shares during the last quarter. Callan Capital LLC grew its stake in shares of Alexandria Real Estate Equities by 1.3% during the 4th quarter. Callan Capital LLC now owns 8,946 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 111 shares during the period. Capital Square LLC increased its position in shares of Alexandria Real Estate Equities by 2.1% during the 3rd quarter. Capital Square LLC now owns 5,811 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 118 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Alexandria Real Estate Equities by 0.7% in the 4th quarter. M&T Bank Corp now owns 19,478 shares of the real estate investment trust’s stock worth $1,901,000 after purchasing an additional 127 shares during the period. Finally, Garland Capital Management Inc. boosted its holdings in shares of Alexandria Real Estate Equities by 0.6% in the fourth quarter. Garland Capital Management Inc. now owns 29,580 shares of the real estate investment trust’s stock worth $2,886,000 after buying an additional 175 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $133.00 to $121.00 in a report on Wednesday, November 27th. Royal Bank of Canada reduced their price objective on 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. Jefferies Financial Group started coverage on Alexandria Real Estate Equities in a research report on Monday, March 17th. They set a “hold” rating and a $100.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Finally, StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.60.

Alexandria Real Estate Equities Price Performance

Shares of Alexandria Real Estate Equities stock opened at $97.58 on Tuesday. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 54.21, a PEG ratio of 3.93 and a beta of 1.17. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The stock’s 50-day simple moving average is $98.31 and its 200-day simple moving average is $106.25. Alexandria Real Estate Equities, Inc. has a 52 week low of $93.25 and a 52 week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, topping 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%. As a group, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.41%. Alexandria Real Estate Equities’s dividend payout ratio is 293.33%.

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.