Bank of New York Mellon Corp Reduces Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of New York Mellon Corp trimmed its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,146,128 shares of the real estate investment trust’s stock after selling 12,505 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Alexandria Real Estate Equities worth $111,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ARE. National Bank of Canada FI boosted its stake in Alexandria Real Estate Equities by 350.0% during the third quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock worth $40,536,000 after buying an additional 265,508 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Alexandria Real Estate Equities by 114.9% during the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock worth $51,706,000 after purchasing an additional 232,817 shares during the last quarter. KBC Group NV lifted its position in shares of Alexandria Real Estate Equities by 315.9% during the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock worth $20,110,000 after purchasing an additional 128,634 shares during the last quarter. Castle Hook Partners LP bought a new stake in shares of Alexandria Real Estate Equities during the third quarter worth $14,319,000. Finally, State Street Corp lifted 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 purchasing an additional 112,864 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on ARE shares. Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their target price for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. Wedbush reiterated 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. 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. Robert W. Baird decreased their target price on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Stock Performance

ARE stock opened at $102.48 on Friday. The company has a market capitalization of $17.74 billion, a P/E ratio of 56.93, a PEG ratio of 3.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. The business has a 50-day moving average price of $97.89 and a 200 day moving average price of $108.39. Alexandria Real Estate Equities, Inc. has a 1-year low of $93.25 and a 1-year high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.32 dividend. The ex-dividend date was Tuesday, December 31st. 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 5.15%. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has approved a share buyback program 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.