Meiji Yasuda Asset Management Co Ltd. Sells 10,980 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 48.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,810 shares of the real estate investment trust’s stock after selling 10,980 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Alexandria Real Estate Equities were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. PGGM Investments grew its position in shares of Alexandria Real Estate Equities by 3,602.0% in the fourth quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock valued at $93,537,000 after purchasing an additional 932,956 shares in the last quarter. Raymond James Financial Inc. bought a new position in Alexandria Real Estate Equities in the 4th quarter worth about $34,170,000. Analyst IMS Investment Management Services Ltd. grew its holdings in Alexandria Real Estate Equities by 170.1% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 486,103 shares of the real estate investment trust’s stock valued at $47,419,000 after buying an additional 306,145 shares in the last quarter. National Bank of Canada FI increased its position in shares of Alexandria Real Estate Equities by 350.0% during the third 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 buying an additional 265,508 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 232,817 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ARE shares. Royal Bank of Canada reduced 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. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a research report on Monday, March 17th. They set a “hold” rating and a $100.00 price target for the company. Wedbush reiterated a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $133.00 to $121.00 in a report on Wednesday, November 27th. 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’s stock. According to data from MarketBeat, Alexandria Real Estate Equities has an average rating of “Hold” and an average target price of $118.60.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE opened at $96.11 on Thursday. The stock’s 50-day moving average is $98.22 and its 200 day moving average is $106.04. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 53.40, a P/E/G ratio of 3.93 and a beta of 1.17. Alexandria Real Estate Equities, Inc. has a 1-year low of $93.25 and a 1-year high of $130.14. 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 (NYSE:ARE) last posted its quarterly 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%. On average, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given 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 payout ratio is 293.33%.

Alexandria Real Estate Equities announced that its board has authorized a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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.