Pictet Asset Management Holding SA Lowers Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Pictet Asset Management Holding SA reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,621 shares of the real estate investment trust’s stock after selling 4,322 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Alexandria Real Estate Equities worth $9,718,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities in the 4th quarter valued at approximately $1,605,426,000. State Street Corp raised its position in Alexandria Real Estate Equities by 1.1% in 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 purchasing an additional 112,864 shares during the period. JPMorgan Chase & Co. lifted its stake in Alexandria Real Estate Equities by 212.9% during 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 purchasing an additional 5,624,163 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Alexandria Real Estate Equities by 0.6% during 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 buying an additional 15,285 shares during the period. Finally, PGGM Investments grew its stake in shares of Alexandria Real Estate Equities by 3,602.0% in the fourth quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock valued at $93,537,000 after buying an additional 932,956 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Analyst Ratings Changes

ARE has been the subject of a number of research analyst reports. Wedbush restated a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. JMP Securities reissued 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. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They set a “hold” rating and a $100.00 target price on the stock. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada reduced their price objective on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Hold” and a consensus price target of $118.60.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $92.39 on Thursday. The stock’s 50-day simple moving average is $97.42 and its 200-day simple moving average is $105.08. 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 firm has a market capitalization of $15.99 billion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. As a group, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed 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. This represents a $5.28 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend is Monday, March 31st. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a share 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership 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.