Amalgamated Bank Reduces Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Amalgamated Bank lowered its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,825 shares of the real estate investment trust’s stock after selling 687 shares during the quarter. Amalgamated Bank’s holdings in Alexandria Real Estate Equities were worth $3,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fulton Bank N.A. increased its stake in Alexandria Real Estate Equities by 77.7% during the 4th quarter. Fulton Bank N.A. now owns 16,165 shares of the real estate investment trust’s stock valued at $1,577,000 after purchasing an additional 7,070 shares in the last quarter. CCLA Investment Management grew its holdings in shares of Alexandria Real Estate Equities by 4.0% during the fourth quarter. CCLA Investment Management now owns 841,435 shares of the real estate investment trust’s stock valued at $82,023,000 after buying an additional 32,367 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Alexandria Real Estate Equities by 5.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust’s stock valued at $88,140,000 after buying an additional 42,825 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Alexandria Real Estate Equities by 67.3% in the 3rd quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust’s stock valued at $4,427,000 after acquiring an additional 14,992 shares during the period. Finally, Vert Asset Management LLC raised its stake in Alexandria Real Estate Equities by 13.8% in the 4th quarter. Vert Asset Management LLC now owns 69,445 shares of the real estate investment trust’s stock worth $6,774,000 after acquiring an additional 8,435 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ARE shares. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research note on Tuesday, December 17th. Robert W. Baird dropped their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Ten investment 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, the company currently has an average rating of “Hold” and a consensus price target of $121.30.

Alexandria Real Estate Equities Stock Up 1.5 %

ARE stock opened at $102.48 on Friday. The firm’s fifty day moving average is $97.89 and its 200 day moving average is $108.39. The firm has a market cap of $17.74 billion, a PE ratio of 56.93, a P/E/G ratio of 3.93 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a one year low of $93.25 and a one year high of $130.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21.

Alexandria Real Estate Equities (NYSE:ARE) last posted its 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%. On average, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 5.15%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio is presently 293.33%.

Alexandria Real Estate Equities announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Alexandria Real Estate Equities

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.