Elo Mutual Pension Insurance Co Sells 677 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Elo Mutual Pension Insurance Co trimmed its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,304 shares of the real estate investment trust’s stock after selling 677 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Alexandria Real Estate Equities were worth $1,298,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ARE. State Street Corp boosted its position in shares of Alexandria Real Estate Equities by 1.1% during the third quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock worth $1,270,634,000 after acquiring an additional 112,864 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alexandria Real Estate Equities by 0.6% during 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 purchasing an additional 15,285 shares during the last quarter. PGGM Investments grew its position in shares of 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 purchasing an additional 932,956 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Alexandria Real Estate Equities by 5.0% in the fourth 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. Finally, Amundi lifted its position in shares of Alexandria Real Estate Equities by 8.8% in the fourth quarter. Amundi now owns 876,650 shares of the real estate investment trust’s stock worth $85,417,000 after buying an additional 70,553 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Down 0.1 %

Shares of NYSE ARE opened at $95.58 on Monday. The stock has a 50 day moving average price of $98.01 and a 200 day moving average price of $105.61. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 3.93 and a beta of 1.17. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21.

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

Alexandria Real Estate Equities Announces Dividend

The firm 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 $1.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.52%. Alexandria Real Estate Equities’s payout ratio is presently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

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

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.