Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Purchased by Vestcor Inc

Vestcor Inc boosted its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 321.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 28,937 shares of the real estate investment trust’s stock after purchasing an additional 22,077 shares during the period. Vestcor Inc’s holdings in Alexandria Real Estate Equities were worth $3,436,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in Alexandria Real Estate Equities by 132.8% in the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC increased its holdings in Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ARE has been the subject of several research reports. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their target price for the company from $130.00 to $125.00 in a report on Friday, September 13th. Robert W. Baird decreased their price target on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Evercore ISI decreased 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 research report on Wednesday, October 23rd. Finally, JMP Securities decreased their price target on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus target price of $125.82.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $104.48 on Wednesday. The stock has a market cap of $18.26 billion, a P/E ratio of 63.71, a price-to-earnings-growth ratio of 3.89 and a beta of 1.15. The company has a fifty day simple moving average of $112.48 and a 200-day simple moving average of $116.27. Alexandria Real Estate Equities, Inc. has a 12-month low of $102.89 and a 12-month high of $135.45. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The firm had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same period last year, the firm posted $2.26 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $1.32 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost 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 5.05%. Alexandria Real Estate Equities’s payout ratio is 317.07%.

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.