Prudential Financial Inc. Has $25.01 Million Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Prudential Financial Inc. lessened its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 34.5% during the 4th quarter, Holdings Channel reports. The firm owned 256,328 shares of the real estate investment trust’s stock after selling 135,189 shares during the quarter. Prudential Financial Inc.’s holdings in Alexandria Real Estate Equities were worth $25,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ARE. Proficio Capital Partners LLC acquired a new position in Alexandria Real Estate Equities in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Alexandria Real Estate Equities by 57.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 109 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Alexandria Real Estate Equities during the 3rd quarter worth approximately $43,000. Spire Wealth Management increased its holdings in Alexandria Real Estate Equities by 72.5% during the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 250 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Alexandria Real Estate Equities by 3,129.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 549 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 532 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a research report on Monday, March 17th. They issued a “hold” rating and a $100.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and an average target price of $118.60.

Alexandria Real Estate Equities Stock Up 0.1 %

Shares of Alexandria Real Estate Equities stock opened at $96.11 on Thursday. Alexandria Real Estate Equities, Inc. has a 12 month low of $93.25 and a 12 month high of $130.14. The business has a fifty day simple moving average of $98.22 and a 200 day simple moving average of $106.04. 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 has a market cap of $16.64 billion, a PE ratio of 53.40, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 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%. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 5.49%. Alexandria Real Estate Equities’s dividend payout ratio is 293.33%.

Alexandria Real Estate Equities announced that its board has approved a share buyback plan 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 plans 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.