New York State Common Retirement Fund Sells 6,544 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

New York State Common Retirement Fund cut its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 244,840 shares of the real estate investment trust’s stock after selling 6,544 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Alexandria Real Estate Equities worth $23,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARE. Catalyst Capital Advisors LLC bought a new position in Alexandria Real Estate Equities in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Alexandria Real Estate Equities in the third quarter valued at approximately $30,000. Venturi Wealth Management LLC boosted its position in shares of 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 purchasing an additional 180 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Alexandria Real Estate Equities during the third quarter worth $43,000. Finally, Spire Wealth Management boosted its position in shares of Alexandria Real Estate Equities by 72.5% during the fourth quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 250 shares in the last quarter. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Trading Up 0.1 %

Shares of NYSE:ARE opened at $95.59 on Friday. 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 12 month low of $93.25 and a 12 month high of $130.14. The company’s fifty day simple moving average is $97.99 and its 200 day simple moving average is $109.00. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 3.92 and a beta of 1.16.

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 (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%. As a group, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a stock repurchase 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 often a sign that the company’s management believes its shares are undervalued.

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. 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%. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is presently 293.33%.

Wall Street Analysts Forecast Growth

ARE has been the topic of a number of recent analyst reports. Wedbush reissued 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. Deutsche Bank Aktiengesellschaft cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada reduced 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. Finally, Robert W. Baird reduced their price target on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.