Bank of New York Mellon Corp Reduces Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of New York Mellon Corp decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,146,128 shares of the real estate investment trust’s stock after selling 12,505 shares during the period. Bank of New York Mellon Corp’s holdings in Alexandria Real Estate Equities were worth $111,805,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its stake in shares of Alexandria Real Estate Equities by 1.1% during the third quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock worth $1,270,634,000 after acquiring an additional 112,864 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Alexandria Real Estate Equities by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock worth $291,045,000 after acquiring an additional 72,934 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Alexandria Real Estate Equities by 5.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust’s stock worth $88,140,000 after acquiring an additional 42,825 shares during the last quarter. CCLA Investment Management boosted its position in Alexandria Real Estate Equities by 4.0% in the fourth 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 during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Alexandria Real Estate Equities by 17.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 554,863 shares of the real estate investment trust’s stock valued at $54,127,000 after buying an additional 82,223 shares during the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Trading Up 1.5 %

Shares of NYSE:ARE opened at $102.48 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $17.74 billion, a PE ratio of 56.93, a PEG ratio of 3.93 and a beta of 1.16. The business has a 50 day moving average of $97.89 and a two-hundred day moving average of $108.39. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.25 and a 12-month high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping the consensus estimate 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%. As a group, analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities declared that its board has approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The company 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 is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a yield of 5.15%. The ex-dividend date was Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

Wall Street Analyst Weigh In

ARE has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Robert W. Baird dropped their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $121.30.

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.