MassMutual Private Wealth & Trust FSB reduced its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 84.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443 shares of the real estate investment trust’s stock after selling 2,371 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Alexandria Real Estate Equities were worth $43,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Catalyst Capital Advisors LLC acquired a new position in shares of Alexandria Real Estate Equities during the third quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in Alexandria Real Estate Equities in the 3rd quarter valued at about $30,000. Venturi Wealth Management LLC boosted its stake in Alexandria Real Estate Equities by 144.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Alexandria Real Estate Equities during the 3rd quarter worth approximately $43,000. Finally, M&R Capital Management Inc. purchased a new stake in shares of Alexandria Real Estate Equities in the third quarter worth approximately $50,000. Institutional investors own 96.54% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on ARE. Evercore ISI cut their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price objective for the stock from $135.00 to $112.00 in a report on Friday, November 15th. Royal Bank of Canada lowered their target price on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Wedbush restated an “outperform” rating and set a $110.00 price target (down from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.90.
Alexandria Real Estate Equities Trading Up 1.1 %
NYSE:ARE opened at $101.56 on Friday. Alexandria Real Estate Equities, Inc. has a 12 month low of $94.35 and a 12 month high of $130.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $102.21 and its 200 day moving average is $112.39. The stock has a market capitalization of $17.75 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 3.85 and a beta of 1.16.
Alexandria Real Estate Equities declared that its board has authorized a stock repurchase 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 reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Alexandria Real Estate Equities Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.32 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a dividend yield of 5.20%. Alexandria Real Estate Equities’s payout ratio is presently 321.95%.
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.
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