Whittier Trust Co. of Nevada Inc. Reduces Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Whittier Trust Co. of Nevada Inc. trimmed its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 96.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,409 shares of the real estate investment trust’s stock after selling 44,345 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Alexandria Real Estate Equities were worth $137,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in Alexandria Real Estate Equities during the 4th quarter worth $29,000. EverSource Wealth Advisors LLC boosted its stake in 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 worth $29,000 after purchasing an additional 109 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Alexandria Real Estate Equities during the 3rd quarter worth $43,000. Spire Wealth Management boosted its stake in Alexandria Real Estate Equities by 72.5% during the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 250 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in Alexandria Real Estate Equities by 3,129.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 549 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 532 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $96.24 on Monday. The company has a 50-day simple moving average of $98.31 and a 200-day simple moving average of $106.39. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16.66 billion, a PE ratio of 53.46, a P/E/G ratio of 3.93 and a beta of 1.17. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly 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%. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities declared that its board has authorized a stock buyback 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.28 annualized dividend and a yield of 5.49%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 293.33%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Wedbush restated a “neutral” rating and issued a $104.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. One 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, Alexandria Real Estate Equities presently has an average rating of “Hold” and an average price target of $118.60.

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.