Bank of Stockton Sells 148 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of Stockton lessened its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,643 shares of the real estate investment trust’s stock after selling 148 shares during the quarter. Bank of Stockton’s holdings in Alexandria Real Estate Equities were worth $453,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Paradigm Asset Management Co. LLC bought a new stake in shares of Alexandria Real Estate Equities in the fourth quarter worth $761,000. Legacy Capital Group California Inc. raised its position in Alexandria Real Estate Equities by 24.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 7,327 shares of the real estate investment trust’s stock worth $715,000 after acquiring an additional 1,449 shares in the last quarter. First Bank & Trust bought a new stake in Alexandria Real Estate Equities during the fourth quarter worth $1,053,000. Handelsbanken Fonder AB raised its position in Alexandria Real Estate Equities by 37.7% during the fourth quarter. Handelsbanken Fonder AB now owns 118,454 shares of the real estate investment trust’s stock worth $11,555,000 after acquiring an additional 32,454 shares in the last quarter. Finally, Ieq Capital LLC raised its position in Alexandria Real Estate Equities by 354.0% during the fourth quarter. Ieq Capital LLC now owns 36,164 shares of the real estate investment trust’s stock worth $3,528,000 after acquiring an additional 28,199 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

Shares of ARE opened at $95.57 on Friday. 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 company’s 50-day moving average is $97.99 and its 200-day moving average is $109.00. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $93.25 and a fifty-two week high of $130.14. The firm has a market capitalization of $16.54 billion, a PE ratio of 53.09, a PEG ratio of 3.93 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS 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%. Equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.33 EPS for the current year.

Alexandria Real Estate Equities declared that its board has approved a stock buyback plan on Monday, December 9th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.32 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 5.52%. Alexandria Real Estate Equities’s dividend payout ratio is 293.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ARE shares. Royal Bank of Canada dropped their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $104.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $121.30.

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.