FineMark National Bank & Trust Sells 4,596 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

FineMark National Bank & Trust reduced its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,820 shares of the real estate investment trust’s stock after selling 4,596 shares during the quarter. FineMark National Bank & Trust’s holdings in Alexandria Real Estate Equities were worth $3,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in Alexandria Real Estate Equities during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Alexandria Real Estate Equities by 57.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 109 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Alexandria Real Estate Equities in the 3rd quarter worth approximately $43,000. Spire Wealth Management boosted its stake in Alexandria Real Estate Equities by 72.5% in the fourth quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 250 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Alexandria Real Estate Equities by 3,129.4% during the third quarter. Loomis Sayles & Co. L P now owns 549 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 532 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $95.95 on Wednesday. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 53.31, a PEG ratio of 3.93 and a beta of 1.17. The stock has a fifty day moving average of $98.27 and a 200 day moving average of $106.11. Alexandria Real Estate Equities, Inc. has a 52 week low of $93.25 and a 52 week high of $130.14. 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 posted its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS 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, research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut 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. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $133.00 to $121.00 in a report on Wednesday, November 27th. Jefferies Financial Group started coverage on Alexandria Real Estate Equities in a report on Monday, March 17th. They set a “hold” rating and a $100.00 target price for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $104.00 price target 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 stock. According to data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and an average price target of $118.60.

Alexandria Real Estate Equities 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.