20,583 Shares in Alexandria Real Estate Equities, Inc. (NYSE:ARE) Purchased by Allstate Corp

Allstate Corp acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,583 shares of the real estate investment trust’s stock, valued at approximately $2,008,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ARE. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities in the 4th quarter worth approximately $1,605,426,000. State Street Corp raised its stake in Alexandria Real Estate Equities by 1.1% during the third quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock valued at $1,270,634,000 after buying an additional 112,864 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alexandria Real Estate Equities by 212.9% in the fourth quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust’s stock worth $806,337,000 after acquiring an additional 5,624,163 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Alexandria Real Estate Equities by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,466,187 shares of the real estate investment trust’s stock worth $240,577,000 after acquiring an additional 15,285 shares during the last quarter. Finally, PGGM Investments increased its holdings in shares of Alexandria Real Estate Equities by 3,602.0% during the fourth quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock valued at $93,537,000 after acquiring an additional 932,956 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

ARE stock opened at $95.58 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. Alexandria Real Estate Equities, Inc. has a 1 year low of $93.25 and a 1 year high of $130.14. The company has a market cap of $16.54 billion, a P/E ratio of 53.10, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17. The stock’s fifty day moving average price is $98.01 and its 200-day moving average price is $105.71.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results 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 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 5.52%. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced 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 shares. This buyback authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARE. Jefferies Financial Group assumed coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 price target on the stock. Royal Bank of Canada cut 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 report on Tuesday, December 17th. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Monday, March 17th. JMP Securities reiterated a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Finally, Wedbush restated 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $118.60.

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.