Truist Financial Corp Has $6.92 Million Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Truist Financial Corp grew its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 16.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 70,910 shares of the real estate investment trust’s stock after acquiring an additional 10,002 shares during the quarter. Truist Financial Corp’s holdings in Alexandria Real Estate Equities were worth $6,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning increased its holdings in Alexandria Real Estate Equities by 14.5% during the third quarter. Creative Planning now owns 15,415 shares of the real estate investment trust’s stock worth $1,830,000 after buying an additional 1,947 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Alexandria Real Estate Equities by 38.1% during the third quarter. Sequoia Financial Advisors LLC now owns 3,238 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 893 shares during the last quarter. Private Advisor Group LLC increased its holdings in Alexandria Real Estate Equities by 5.1% during the third quarter. Private Advisor Group LLC now owns 2,651 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 129 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Alexandria Real Estate Equities during the third quarter worth $22,560,000. Finally, Assenagon Asset Management S.A. increased its holdings in Alexandria Real Estate Equities by 28.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,162 shares of the real estate investment trust’s stock worth $375,000 after buying an additional 702 shares during the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Trading Up 0.1 %

Shares of Alexandria Real Estate Equities stock opened at $95.59 on Friday. The firm has a 50-day moving average of $97.85 and a 200-day moving average of $108.88. The stock has a market cap of $16.55 billion, a PE ratio of 53.11, a PEG ratio of 3.93 and a beta of 1.16. 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 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 announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

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

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.32 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 annualized dividend and a yield of 5.52%. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARE. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $112.00 in a report on Friday, November 15th. Wedbush reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.30.

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.