Assenagon Asset Management S.A. Decreases Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Assenagon Asset Management S.A. cut its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,794 shares of the real estate investment trust’s stock after selling 368 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alexandria Real Estate Equities were worth $273,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Alexandria Real Estate Equities during the third quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $30,000. Venturi Wealth Management LLC increased its position in Alexandria Real Estate Equities by 144.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 180 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $43,000. Finally, M&R Capital Management Inc. acquired a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter valued at approximately $50,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $101.56 on Friday. Alexandria Real Estate Equities, Inc. has a twelve month low of $94.35 and a twelve month high of $130.14. The company has a market cap of $17.75 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 3.85 and a beta of 1.16. The business’s 50 day moving average price is $102.13 and its two-hundred day moving average price is $112.29. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56.

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

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.32 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.20%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 321.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARE shares. Royal Bank of Canada decreased their target price 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 report on Tuesday, December 17th. Evercore ISI reduced their price objective on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, Robert W. Baird lowered their price target on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $121.90.

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.