Alexandria Real Estate Equities, Inc. (NYSE:ARE) Stock Position Reduced by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 93.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,781 shares of the real estate investment trust’s stock after selling 582,174 shares during the period. DAVENPORT & Co LLC’s holdings in Alexandria Real Estate Equities were worth $3,783,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fulton Bank N.A. lifted its holdings in shares of Alexandria Real Estate Equities by 77.7% in 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 purchasing an additional 7,070 shares during the last quarter. CCLA Investment Management lifted its holdings in shares of Alexandria Real Estate Equities by 4.0% in the 4th quarter. CCLA Investment Management now owns 841,435 shares of the real estate investment trust’s stock worth $82,023,000 after purchasing an additional 32,367 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Alexandria Real Estate Equities by 67.3% in the 3rd quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust’s stock worth $4,427,000 after purchasing an additional 14,992 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Alexandria Real Estate Equities by 11,449.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock worth $169,056,000 after purchasing an additional 1,411,304 shares during the last quarter. Finally, Vert Asset Management LLC lifted its holdings in shares of Alexandria Real Estate Equities by 13.8% in the 4th quarter. Vert Asset Management LLC now owns 69,445 shares of the real estate investment trust’s stock worth $6,774,000 after purchasing an additional 8,435 shares during the last quarter. Institutional investors own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Wedbush reiterated a “neutral” rating and set a $104.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Evercore ISI lowered their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered 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 report on Tuesday, December 17th. One 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 MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and a consensus price target of $121.30.

Alexandria Real Estate Equities Stock Down 2.8 %

NYSE ARE opened at $94.61 on Tuesday. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 3.69 and a beta of 1.16. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a 1-year low of $94.35 and a 1-year high of $130.14. The stock’s 50 day moving average is $101.34 and its two-hundred day moving average is $111.20.

Alexandria Real Estate Equities (NYSE:ARE) last announced 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 return on equity of 1.43% and a net margin of 10.36%. Equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.32 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, December 31st. This represents a $5.28 annualized dividend and a yield of 5.58%. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Alexandria Real Estate Equities announced that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is 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.