Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,723 shares of the real estate investment trust’s stock after selling 5,383 shares during the period. Rhumbline Advisers owned about 0.17% of Alexandria Real Estate Equities worth $29,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. New York State Teachers Retirement System lifted its position in Alexandria Real Estate Equities by 16.3% in the 4th quarter. New York State Teachers Retirement System now owns 153,301 shares of the real estate investment trust’s stock valued at $14,955,000 after purchasing an additional 21,464 shares during the last quarter. Banque Pictet & Cie SA increased its position in shares of Alexandria Real Estate Equities by 2,377.9% in the fourth quarter. Banque Pictet & Cie SA now owns 63,780 shares of the real estate investment trust’s stock worth $6,222,000 after acquiring an additional 61,206 shares in the last quarter. Core Alternative Capital increased its position in shares of Alexandria Real Estate Equities by 6.6% in the fourth quarter. Core Alternative Capital now owns 29,164 shares of the real estate investment trust’s stock worth $2,845,000 after acquiring an additional 1,818 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth approximately $419,000. Finally, Thompson Investment Management Inc. increased its position in shares of Alexandria Real Estate Equities by 3.0% in the fourth quarter. Thompson Investment Management Inc. now owns 31,630 shares of the real estate investment trust’s stock worth $3,086,000 after acquiring an additional 931 shares in the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ARE shares. Robert W. Baird lowered their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Royal Bank of Canada reduced their price target on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Evercore ISI reduced their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $133.00 to $121.00 in a research note 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Trading Down 0.5 %

Shares of Alexandria Real Estate Equities stock opened at $95.26 on Thursday. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14. The firm has a 50-day moving average of $98.29 and a 200-day moving average of $109.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market cap of $16.49 billion, a PE ratio of 52.92, a PEG ratio of 3.90 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.33 EPS for the current 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 given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Tuesday, December 31st. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities declared that its board has initiated a share repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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.