Legacy Capital Group California Inc. Acquires 1,449 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Capital Group California Inc. increased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,327 shares of the real estate investment trust’s stock after purchasing an additional 1,449 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Alexandria Real Estate Equities were worth $715,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ARE. Fulton Bank N.A. boosted its stake in shares of 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 worth $1,577,000 after buying an additional 7,070 shares during the last quarter. CCLA Investment Management raised its holdings in 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 worth $82,023,000 after acquiring an additional 32,367 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in 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 worth $88,140,000 after acquiring an additional 42,825 shares in the last quarter. CIBC Asset Management Inc boosted its position in Alexandria Real Estate Equities by 67.3% during the third quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust’s stock valued at $4,427,000 after purchasing an additional 14,992 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after purchasing an additional 1,411,304 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE opened at $95.57 on Friday. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.25 and a 12-month high of $130.14. The company’s 50 day moving average price is $98.13 and its two-hundred day moving average price is $109.09. The firm has a market cap of $16.54 billion, a PE ratio of 53.09, a PEG ratio of 3.93 and a beta of 1.16. 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 (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, topping 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%. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.33 earnings per share for the current year.

Alexandria Real Estate Equities declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date was Tuesday, December 31st. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Thursday. Wedbush restated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $121.30.

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.