Alexandria Real Estate Equities (NYSE:ARE) Reaches New 12-Month Low – Here’s What Happened

Alexandria Real Estate Equities, Inc. (NYSE:ARE) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $93.80 and last traded at $94.46, with a volume of 90115 shares trading hands. The stock had previously closed at $94.58.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded 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 report on Friday, November 15th. Royal Bank of Canada cut 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 report on Tuesday, December 17th. StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Robert W. Baird dropped their target price on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wedbush reaffirmed 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $121.30.

Alexandria Real Estate Equities Price Performance

The company has a market cap of $16.81 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 3.69 and a beta of 1.16. The business’s 50 day moving average price is $100.38 and its 200-day moving average price is $110.67. 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 released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (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, analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 293.33%.

Alexandria Real Estate Equities declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several institutional investors and hedge funds have recently made changes to their positions in ARE. Pathway Financial Advisers LLC boosted its stake in Alexandria Real Estate Equities by 11,449.8% during the 3rd 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 acquiring an additional 1,411,304 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Alexandria Real Estate Equities by 350.0% in the 3rd quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock valued at $40,536,000 after purchasing an additional 265,508 shares in the last quarter. Raymond James & Associates lifted its position in shares of Alexandria Real Estate Equities by 501.1% during the third quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust’s stock worth $34,539,000 after purchasing an additional 242,466 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Alexandria Real Estate Equities by 114.9% in the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock worth $51,706,000 after purchasing an additional 232,817 shares in the last quarter. Finally, KBC Group NV increased its holdings in Alexandria Real Estate Equities by 315.9% in the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock valued at $20,110,000 after buying an additional 128,634 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other 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.