Employees Retirement System of Texas Reduces Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Employees Retirement System of Texas trimmed its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 39.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,000 shares of the real estate investment trust’s stock after selling 39,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Alexandria Real Estate Equities were worth $5,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARE. Bank of Montreal Can grew its position in Alexandria Real Estate Equities by 6.1% in the 4th quarter. Bank of Montreal Can now owns 383,558 shares of the real estate investment trust’s stock valued at $37,416,000 after acquiring an additional 22,146 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Alexandria Real Estate Equities by 20.4% during the fourth quarter. Federated Hermes Inc. now owns 695,137 shares of the real estate investment trust’s stock valued at $67,811,000 after purchasing an additional 117,753 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Alexandria Real Estate Equities by 5.8% in the fourth quarter. Wedbush Securities Inc. now owns 2,300 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 126 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Alexandria Real Estate Equities by 25.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 526,960 shares of the real estate investment trust’s stock worth $51,405,000 after buying an additional 106,002 shares during the period. Finally, Aviva PLC increased its stake in Alexandria Real Estate Equities by 1,337.9% in the 4th quarter. Aviva PLC now owns 95,546 shares of the real estate investment trust’s stock worth $9,321,000 after buying an additional 88,901 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARE has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. Jefferies Financial Group started coverage on Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 price objective on the stock. Wedbush reaffirmed a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $118.60.

Alexandria Real Estate Equities Stock Down 4.3 %

Shares of NYSE ARE opened at $77.81 on Tuesday. Alexandria Real Estate Equities, Inc. has a 12-month low of $76.50 and a 12-month high of $130.14. The stock’s fifty day simple moving average is $96.25 and its two-hundred day simple moving average is $104.06. The stock has a market capitalization of $13.47 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share 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 EPS for the current fiscal year.

Alexandria Real Estate Equities declared that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s payout ratio is currently 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.