Alexandria Real Estate Equities (NYSE:ARE) Sets New 1-Year Low – Here’s What Happened

Alexandria Real Estate Equities, Inc. (NYSE:ARE) shares hit a new 52-week low on Monday . The company traded as low as $93.19 and last traded at $93.41, with a volume of 108311 shares trading hands. The stock had previously closed at $94.28.

Analysts Set New Price Targets

A number of equities analysts have commented on ARE shares. Wedbush reissued a “neutral” rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Jefferies Financial Group began coverage on Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. StockNews.com lowered Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Finally, Royal Bank of Canada dropped their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $118.60.

Alexandria Real Estate Equities Stock Down 1.5 %

The firm has a market capitalization of $15.77 billion, a PE ratio of 50.61, a PEG ratio of 3.93 and a beta of 1.17. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $97.59 and a 200 day simple moving average of $105.17.

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 net margin of 10.36% and a return on equity of 1.43%. As a group, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.32 per share. The ex-dividend date is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.80%. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has initiated a share repurchase plan 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 reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in shares of Alexandria Real Estate Equities by 57.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 109 shares during the period. Callan Capital LLC increased its position in Alexandria Real Estate Equities by 1.3% during the 4th quarter. Callan Capital LLC now owns 8,946 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 111 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Alexandria Real Estate Equities by 6.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,119 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 120 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Alexandria Real Estate Equities by 5.8% during the 4th quarter. Wedbush Securities Inc. now owns 2,300 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 126 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Alexandria Real Estate Equities by 0.7% during the fourth quarter. M&T Bank Corp now owns 19,478 shares of the real estate investment trust’s stock valued at $1,901,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

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.