Resona Asset Management Co. Ltd. Buys New Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Resona Asset Management Co. Ltd. bought a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 86,721 shares of the real estate investment trust’s stock, valued at approximately $8,510,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Alexandria Real Estate Equities during the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its stake in Alexandria Real Estate Equities by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 109 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Alexandria Real Estate Equities in the third quarter worth approximately $43,000. Spire Wealth Management grew its position in Alexandria Real Estate Equities by 72.5% during the fourth quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 250 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Alexandria Real Estate Equities by 129.9% during the fourth quarter. Versant Capital Management Inc now owns 745 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

Shares of ARE stock opened at $77.81 on Tuesday. 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, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $130.14. The firm has a market cap of $13.47 billion, a P/E ratio of 43.23, a P/E/G ratio of 3.93 and a beta of 1.24. The business’s 50 day moving average price is $96.25 and its 200-day moving average price is $104.06.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. On average, equities research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities announced that its board has authorized a stock buyback plan on Monday, December 9th that permits the company to buyback $500.00 million in outstanding 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 generally an indication that the company’s board believes its stock is undervalued.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARE. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note 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 target price for the company. Royal Bank of Canada reduced their price target 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. Finally, Wedbush reiterated a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $118.60.

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.