Pasadena Private Wealth LLC Sells 3,106 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Pasadena Private Wealth LLC trimmed its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 33.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,180 shares of the real estate investment trust’s stock after selling 3,106 shares during the period. Pasadena Private Wealth LLC’s holdings in Alexandria Real Estate Equities were worth $603,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in ARE. Fulton Bank N.A. lifted its position in shares of Alexandria Real Estate Equities by 77.7% during the fourth quarter. Fulton Bank N.A. now owns 16,165 shares of the real estate investment trust’s stock valued at $1,577,000 after purchasing an additional 7,070 shares in the last quarter. CCLA Investment Management grew its stake in Alexandria Real Estate Equities by 4.0% in the 4th quarter. CCLA Investment Management now owns 841,435 shares of the real estate investment trust’s stock valued at $82,023,000 after buying an additional 32,367 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Alexandria Real Estate Equities by 5.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust’s stock valued at $88,140,000 after purchasing an additional 42,825 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Alexandria Real Estate Equities by 67.3% in the third quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust’s stock worth $4,427,000 after buying an additional 14,992 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in Alexandria Real Estate Equities by 11,449.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after purchasing an additional 1,411,304 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI reduced 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 note on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Robert W. Baird cut 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 report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Finally, StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Trading Up 0.9 %

Shares of Alexandria Real Estate Equities stock opened at $95.70 on Wednesday. The stock has a market cap of $16.56 billion, a PE ratio of 53.17, a price-to-earnings-growth ratio of 3.67 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 1 year low of $93.25 and a 1 year high of $130.14. The firm has a fifty day moving average price of $98.47 and a 200 day moving average price of $109.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.34 earnings per share for the current year.

Alexandria Real Estate Equities announced that its board has authorized a share buyback program on Monday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.52%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 293.33%.

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.