Vestcor Inc Has $3.99 Million Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Vestcor Inc raised its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 41.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,871 shares of the real estate investment trust’s stock after acquiring an additional 11,934 shares during the period. Vestcor Inc’s holdings in Alexandria Real Estate Equities were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARE. Raymond James Financial Inc. bought a new stake in shares of Alexandria Real Estate Equities in the fourth quarter valued at about $34,170,000. National Bank of Canada FI lifted its holdings in shares of Alexandria Real Estate Equities by 350.0% in the third quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock valued at $40,536,000 after purchasing an additional 265,508 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Alexandria Real Estate Equities by 114.9% in the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock valued at $51,706,000 after purchasing an additional 232,817 shares in the last quarter. KBC Group NV lifted its holdings in shares of Alexandria Real Estate Equities by 315.9% in the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock valued at $20,110,000 after purchasing an additional 128,634 shares in the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Alexandria Real Estate Equities in the third quarter valued at about $14,319,000. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Down 2.0 %

Shares of ARE opened at $96.59 on Friday. Alexandria Real Estate Equities, Inc. has a 52 week low of $93.25 and a 52 week high of $130.14. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 3.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a fifty day moving average of $98.23 and a 200-day moving average of $107.46.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Monday, March 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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 on the stock in a report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. 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. Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently 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.