Mirae Asset Global Investments Co. Ltd. Acquires 2,568 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,297 shares of the real estate investment trust’s stock after acquiring an additional 2,568 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alexandria Real Estate Equities were worth $2,973,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ARE. Catalyst Capital Advisors LLC bought a new position in shares of Alexandria Real Estate Equities in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at $30,000. Venturi Wealth Management LLC lifted 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 acquiring an additional 180 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Alexandria Real Estate Equities during the 3rd quarter worth $43,000. Finally, Spire Wealth Management grew its stake in shares of Alexandria Real Estate Equities by 72.5% in the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $95.97 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market cap of $16.61 billion, a PE ratio of 53.32, a PEG ratio of 3.67 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 1 year low of $93.80 and a 1 year high of $130.14. The stock’s fifty day moving average price is $99.82 and its two-hundred day moving average price is $110.28.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data 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 return on equity of 1.43% and a net margin of 10.36%. On average, equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.34 EPS for the current year.

Alexandria Real Estate Equities declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 5.50%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARE. JMP Securities reissued a “market outperform” rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Royal Bank of Canada reduced 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, December 17th. StockNews.com lowered Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird reduced their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $121.30.

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.