Community Trust & Investment Co. Purchases 1,173 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Community Trust & Investment Co. raised its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,672 shares of the real estate investment trust’s stock after purchasing an additional 1,173 shares during the period. Community Trust & Investment Co.’s holdings in Alexandria Real Estate Equities were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Alexandria Real Estate Equities in the second quarter valued at about $416,000. Choreo LLC bought a new position in shares of Alexandria Real Estate Equities during the second quarter worth approximately $339,000. American Century Companies Inc. raised its position in shares of Alexandria Real Estate Equities by 14.3% in the second quarter. American Century Companies Inc. now owns 57,773 shares of the real estate investment trust’s stock valued at $6,758,000 after buying an additional 7,246 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Alexandria Real Estate Equities by 30.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 26,382 shares of the real estate investment trust’s stock valued at $3,086,000 after buying an additional 6,176 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Alexandria Real Estate Equities during the second quarter worth approximately $12,738,000. Institutional investors own 96.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their price objective on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Evercore ISI dropped 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. Finally, JMP Securities lowered their price objective on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Alexandria Real Estate Equities currently has an average rating of “Hold” and a consensus target price of $121.90.

Alexandria Real Estate Equities Stock Up 0.1 %

Shares of ARE opened at $97.77 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. Alexandria Real Estate Equities, Inc. has a 52 week low of $94.35 and a 52 week high of $130.14. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of 59.62, a PEG ratio of 3.87 and a beta of 1.16. The stock has a fifty day moving average of $103.64 and a 200-day moving average of $113.11.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The firm had revenue of $791.60 million during the quarter, compared to the consensus estimate of $766.97 million. During the same quarter in the prior year, the business posted $2.26 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a yield of 5.40%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 321.95%.

Alexandria Real Estate Equities declared that its board has initiated a stock buyback 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 typically a sign that the company’s board believes its shares are undervalued.

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.