Legacy Capital Group California Inc. Has $715,000 Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Capital Group California Inc. raised its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 24.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,327 shares of the real estate investment trust’s stock after acquiring an additional 1,449 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Alexandria Real Estate Equities were worth $715,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital Square LLC lifted its stake in Alexandria Real Estate Equities by 2.1% in the 3rd quarter. Capital Square LLC now owns 5,811 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 118 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Alexandria Real Estate Equities by 5.1% in the 3rd quarter. Private Advisor Group LLC now owns 2,651 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 129 shares during the last quarter. Avitas Wealth Management LLC lifted its stake in shares of Alexandria Real Estate Equities by 1.5% in the 3rd quarter. Avitas Wealth Management LLC now owns 10,910 shares of the real estate investment trust’s stock valued at $1,296,000 after acquiring an additional 163 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of 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 valued at $36,000 after acquiring an additional 180 shares in the last quarter. Finally, Keudell Morrison Wealth Management grew its position in Alexandria Real Estate Equities by 8.7% during the 4th quarter. Keudell Morrison Wealth Management now owns 2,422 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 194 shares during the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARE shares. Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Royal Bank of Canada cut 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. Wedbush reissued a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Robert W. Baird dropped 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 note on Friday, November 8th. Finally, JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average target price of $121.30.

Alexandria Real Estate Equities Trading Up 0.3 %

ARE opened at $95.57 on Friday. The stock has a market cap of $16.54 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 3.93 and a beta of 1.16. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a twelve month low of $93.25 and a twelve month high of $130.14. The company has a fifty day moving average of $98.13 and a 200-day moving average of $109.09.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.33 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a yield of 5.52%. Alexandria Real Estate Equities’s payout ratio is 293.33%.

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 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.