Alexandria Real Estate Equities (NYSE:ARE) Reaches New 52-Week Low – Here’s Why

Alexandria Real Estate Equities, Inc. (NYSE:ARE) shares hit a new 52-week low during trading on Monday . The stock traded as low as $93.19 and last traded at $93.41, with a volume of 108311 shares trading hands. The stock had previously closed at $94.28.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ARE shares. Royal Bank of Canada dropped their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Finally, Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a report on Monday, March 17th. They set a “hold” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.60.

Alexandria Real Estate Equities Stock Performance

The company’s 50 day simple moving average is $97.59 and its 200 day simple moving average is $105.17. The stock has a market cap of $15.77 billion, a PE ratio of 50.61, a price-to-earnings-growth ratio of 3.93 and a beta of 1.17. 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 issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.80%. Alexandria Real Estate Equities’s payout ratio is 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Several hedge funds and other institutional investors have recently modified their holdings of ARE. Norges Bank purchased a new position in Alexandria Real Estate Equities during the fourth quarter valued at approximately $1,605,426,000. State Street Corp boosted its holdings in Alexandria Real Estate Equities by 1.1% in the 3rd 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. grew its position in shares of Alexandria Real Estate Equities by 212.9% during the 4th quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust’s stock valued at $806,337,000 after purchasing an additional 5,624,163 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alexandria Real Estate Equities by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,135,591 shares of the real estate investment trust’s stock worth $402,450,000 after buying an additional 96,771 shares in the last quarter. Finally, Capital World Investors bought a new stake in Alexandria Real Estate Equities during the fourth quarter valued at $326,959,000. 96.54% of the stock is currently owned by institutional investors.

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.