Alexandria Real Estate Equities (NYSE:ARE) Sets New 12-Month Low – What’s Next?

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) hit a new 52-week low during trading on Tuesday . The stock traded as low as $94.35 and last traded at $97.77, with a volume of 1655837 shares. The stock had previously closed at $94.99.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target 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. Deutsche Bank Aktiengesellschaft cut 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. Evercore ISI cut their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. JMP Securities decreased their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, November 15th. Finally, Wedbush restated an “outperform” rating and issued a $110.00 target price (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.90.

Alexandria Real Estate Equities Trading Up 2.9 %

The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 59.62, a P/E/G ratio of 3.87 and a beta of 1.16. The business has a 50-day simple moving average of $103.96 and a two-hundred day simple moving average of $113.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share 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 the consensus estimate of $766.97 million. During the same quarter last year, the company posted $2.26 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. Equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 EPS 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. The ex-dividend date is Tuesday, December 31st. This represents a $5.28 dividend on an annualized basis and a yield of 5.40%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio is 321.95%.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a share 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Alexandria Real Estate Equities

Hedge funds have recently added to or reduced their stakes in the company. Presima Securities ULC grew its position in shares of Alexandria Real Estate Equities by 0.9% during the 3rd quarter. Presima Securities ULC now owns 11,725 shares of the real estate investment trust’s stock worth $1,392,000 after purchasing an additional 100 shares in the last quarter. Capital Square LLC grew its position in Alexandria Real Estate Equities by 2.1% during the third quarter. Capital Square LLC now owns 5,811 shares of the real estate investment trust’s stock worth $690,000 after buying an additional 118 shares in the last quarter. Private Advisor Group LLC increased its stake in Alexandria Real Estate Equities by 5.1% during the 3rd quarter. Private Advisor Group LLC now owns 2,651 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 129 shares during the period. Cascade Investment Advisors Inc. raised its holdings in Alexandria Real Estate Equities by 1.3% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 10,075 shares of the real estate investment trust’s stock valued at $1,196,000 after acquiring an additional 130 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Alexandria Real Estate Equities by 9.7% during the 3rd quarter. NBC Securities Inc. now owns 1,475 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 130 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

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.