Alliancebernstein L.P. Cuts Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Alliancebernstein L.P. cut its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 60.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,288 shares of the real estate investment trust’s stock after selling 458,724 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of Alexandria Real Estate Equities worth $29,391,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ARE. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth $1,605,426,000. JPMorgan Chase & Co. grew its stake in Alexandria Real Estate Equities by 212.9% during the 4th quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust’s stock valued at $806,337,000 after acquiring an additional 5,624,163 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Alexandria Real Estate Equities by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,466,187 shares of the real estate investment trust’s stock valued at $240,577,000 after acquiring an additional 15,285 shares during the last quarter. PGGM Investments lifted its stake in Alexandria Real Estate Equities by 3,602.0% in the 4th quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock worth $93,537,000 after purchasing an additional 932,956 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings 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. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ARE shares. 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 on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Alexandria Real Estate Equities in a research report on Monday, March 17th. They set a “hold” rating and a $100.00 price target on the stock. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $104.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Hold” and a consensus price target of $118.60.

Alexandria Real Estate Equities Stock Down 5.7 %

Shares of NYSE ARE opened at $81.32 on Monday. Alexandria Real Estate Equities, Inc. has a 52-week low of $80.00 and a 52-week high of $130.14. The business’s 50 day moving average is $96.73 and its two-hundred day moving average is $104.37. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 45.18, a PEG ratio of 3.93 and a beta of 1.24. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (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%. Research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a stock repurchase program 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities 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.