DAVENPORT & Co LLC Reduces Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

DAVENPORT & Co LLC reduced its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 93.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,781 shares of the real estate investment trust’s stock after selling 582,174 shares during the period. DAVENPORT & Co LLC’s holdings in Alexandria Real Estate Equities were worth $3,783,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in Alexandria Real Estate Equities during the third quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in Alexandria Real Estate Equities during the third quarter worth $30,000. Venturi Wealth Management LLC boosted its holdings in Alexandria Real Estate Equities by 144.0% during the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 180 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Alexandria Real Estate Equities during the third quarter worth $43,000. Finally, Loomis Sayles & Co. L P raised its position in Alexandria Real Estate Equities by 3,129.4% during the third quarter. Loomis Sayles & Co. L P now owns 549 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 532 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARE has been the subject of a number of research analyst reports. JMP Securities restated 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. Robert W. Baird reduced their price objective 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. Wedbush restated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, Evercore ISI reduced their target price 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. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Stock Down 2.8 %

Shares of NYSE:ARE opened at $94.61 on Tuesday. 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 52-week low of $94.35 and a 52-week high of $130.14. The stock’s fifty day simple moving average is $101.34 and its 200-day simple moving average is $111.20. The company has a market capitalization of $16.38 billion, a P/E ratio of 52.56, a P/E/G ratio of 3.69 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last released its 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 return on equity of 1.43% and a net margin of 10.36%. As a group, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. 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 5.58%. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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.