JPMorgan Chase & Co. Sells 107,966 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

JPMorgan Chase & Co. reduced its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,641,717 shares of the real estate investment trust’s stock after selling 107,966 shares during the quarter. JPMorgan Chase & Co.’s holdings in Alexandria Real Estate Equities were worth $313,704,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc grew 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 purchasing an additional 14,992 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock worth $169,056,000 after purchasing an additional 1,411,304 shares in the last quarter. Natixis Advisors LLC increased its holdings in Alexandria Real Estate Equities by 10.0% during the 3rd quarter. Natixis Advisors LLC now owns 120,098 shares of the real estate investment trust’s stock worth $14,262,000 after purchasing an additional 10,917 shares during the period. Charles Schwab Investment Management Inc. raised its position in Alexandria Real Estate Equities by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock valued at $291,045,000 after purchasing an additional 72,934 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Alexandria Real Estate Equities by 117.7% during the 2nd quarter. National Bank of Canada FI now owns 75,849 shares of the real estate investment trust’s stock valued at $8,784,000 after purchasing an additional 41,002 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $98.35 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a 50-day moving average of $107.72 and a two-hundred day moving average of $114.70. The stock has a market cap of $17.19 billion, a P/E ratio of 59.97, a P/E/G ratio of 3.87 and a beta of 1.14. Alexandria Real Estate Equities, Inc. has a one year low of $97.14 and a one year high of $131.36.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate 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 company had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. During the same period last year, the business earned $2.26 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.37%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio is presently 321.95%.

Alexandria Real Estate Equities declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on ARE shares. 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 research note on Wednesday, October 23rd. JMP Securities cut their target price on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada lowered 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 research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft cut 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. Finally, JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their target price for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and a consensus target price of $124.82.

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.