Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by DnB Asset Management AS

DnB Asset Management AS trimmed its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 16.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 81,906 shares of the real estate investment trust’s stock after selling 15,798 shares during the period. DnB Asset Management AS’s holdings in Alexandria Real Estate Equities were worth $7,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARE. Fulton Bank N.A. grew its holdings in shares of Alexandria Real Estate Equities by 77.7% during the fourth quarter. Fulton Bank N.A. now owns 16,165 shares of the real estate investment trust’s stock worth $1,577,000 after purchasing an additional 7,070 shares during the last quarter. Magnetar Financial LLC purchased a new position in Alexandria Real Estate Equities during the 4th quarter worth approximately $968,000. Hahn Capital Management LLC increased its position in Alexandria Real Estate Equities by 50.4% during the fourth quarter. Hahn Capital Management LLC now owns 68,370 shares of the real estate investment trust’s stock worth $6,669,000 after buying an additional 22,926 shares during the period. CCLA Investment Management lifted its stake in Alexandria Real Estate Equities by 4.0% in the fourth quarter. CCLA Investment Management now owns 841,435 shares of the real estate investment trust’s stock valued at $82,023,000 after buying an additional 32,367 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Alexandria Real Estate Equities by 5.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust’s stock valued at $88,140,000 after acquiring an additional 42,825 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ARE. StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Wedbush restated a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They set a “hold” rating and a $100.00 target price for the company. Royal Bank of Canada dropped their price target on 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $118.60.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $95.58 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.25 and a 12-month high of $130.14. The company has a market cap of $16.54 billion, a price-to-earnings ratio of 53.10, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17. The stock has a 50 day simple moving average of $98.01 and a 200-day simple moving average of $105.71.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (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%. On average, equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 annualized dividend and a yield of 5.52%. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced that its board has initiated a share buyback plan 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are 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.