M&G Plc Lowers Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

M&G Plc decreased its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,633,857 shares of the real estate investment trust’s stock after selling 25,235 shares during the period. Alexandria Real Estate Equities makes up approximately 1.0% of M&G Plc’s investment portfolio, making the stock its 20th biggest position. M&G Plc’s holdings in Alexandria Real Estate Equities were worth $194,429,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Harvest Portfolios Group Inc. lifted its stake in shares of Alexandria Real Estate Equities by 92.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 7,755 shares of the real estate investment trust’s stock valued at $921,000 after buying an additional 3,724 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $304,000. Catalyst Capital Advisors LLC purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $25,000. Intact Investment Management Inc. lifted its stake in shares of Alexandria Real Estate Equities by 457.0% during the 3rd quarter. Intact Investment Management Inc. now owns 50,130 shares of the real estate investment trust’s stock valued at $5,953,000 after buying an additional 41,130 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Alexandria Real Estate Equities by 14.2% during the 3rd quarter. Van ECK Associates Corp now owns 75,737 shares of the real estate investment trust’s stock valued at $9,081,000 after buying an additional 9,400 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

ARE stock opened at $112.98 on Thursday. Alexandria Real Estate Equities, Inc. has a 12 month low of $93.17 and a 12 month high of $135.45. 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 company has a 50-day moving average price of $118.23 and a 200 day moving average price of $118.23. The stock has a market cap of $19.74 billion, a PE ratio of 68.89, a P/E/G ratio of 4.15 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last released 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 return on equity of 1.31% and a net margin of 9.62%. The firm had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the firm posted $2.26 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.48 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.30 per share. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.60%. Alexandria Real Estate Equities’s dividend payout ratio is presently 317.07%.

Wall Street Analysts Forecast Growth

ARE has been the topic of a number of analyst reports. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $151.00 to $126.00 in a research note on Monday, July 29th. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Evercore ISI reduced their price target on shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target (down from $130.00) on shares of Alexandria Real Estate Equities in a report on Thursday, October 24th. Finally, BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $131.22.

Alexandria Real Estate Equities 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.