Wellington Management Group LLP Increases Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Wellington Management Group LLP increased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 96.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,418 shares of the real estate investment trust’s stock after buying an additional 13,447 shares during the quarter. Wellington Management Group LLP’s holdings in Alexandria Real Estate Equities were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its holdings in shares of 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 worth $169,056,000 after acquiring an additional 1,411,304 shares during the period. Raymond James & Associates increased its position in 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 raised its stake in Alexandria Real Estate Equities by 114.9% during 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 during the period. KBC Group NV boosted its holdings in shares of Alexandria Real Estate Equities by 315.9% in the 3rd quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock valued at $20,110,000 after purchasing an additional 128,634 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $14,319,000. 96.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARE has been the topic of several research reports. JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Robert W. Baird reduced their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the company from $135.00 to $112.00 in a report on Friday, November 15th. Finally, JMP Securities decreased their price objective on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.82.

Alexandria Real Estate Equities Stock Performance

NYSE:ARE opened at $102.33 on Wednesday. The firm has a 50-day moving average of $111.00 and a two-hundred day moving average of $115.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $17.88 billion, a P/E ratio of 62.40, a PEG ratio of 3.87 and a beta of 1.14. Alexandria Real Estate Equities, Inc. has a 1-year low of $100.40 and a 1-year high of $131.82.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the company posted $2.26 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is 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 payout ratio is 321.95%.

Alexandria Real Estate Equities announced that its board has authorized a stock buyback program 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 reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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.