Alexandria Real Estate Equities (NYSE:ARE) Hits New 1-Year Low – Here’s What Happened

Alexandria Real Estate Equities, Inc. (NYSE:ARE) reached a new 52-week low on Wednesday . The stock traded as low as $96.25 and last traded at $96.71, with a volume of 207509 shares trading hands. The stock had previously closed at $97.36.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada cut 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 report on Tuesday, December 17th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their price target for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Finally, BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $121.90.

Alexandria Real Estate Equities Stock Down 2.4 %

The firm has a market capitalization of $16.61 billion, a PE ratio of 57.96, a P/E/G ratio of 3.87 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. The company has a 50-day moving average price of $104.58 and a 200 day moving average price of $113.58.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the firm posted $2.26 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.32 dividend. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is currently 321.95%.

Alexandria Real Estate Equities declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Hedge funds have recently bought and sold shares of the business. Catalyst Capital Advisors LLC purchased a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter valued at approximately $30,000. Venturi Wealth Management LLC boosted its holdings in shares of Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 180 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at approximately $43,000. Finally, M&R Capital Management Inc. purchased a new stake in Alexandria Real Estate Equities during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

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.