Fulton Bank N.A. Raises Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Fulton Bank N.A. lifted its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 77.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,165 shares of the real estate investment trust’s stock after acquiring an additional 7,070 shares during the quarter. Fulton Bank N.A.’s holdings in Alexandria Real Estate Equities were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised its position in Alexandria Real Estate Equities by 76.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,883 shares of the real estate investment trust’s stock valued at $1,741,000 after purchasing an additional 6,425 shares in the last quarter. Candriam S.C.A. raised its holdings in Alexandria Real Estate Equities by 9.6% in the second quarter. Candriam S.C.A. now owns 19,633 shares of the real estate investment trust’s stock valued at $2,296,000 after acquiring an additional 1,719 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Alexandria Real Estate Equities in the second quarter worth approximately $416,000. Ashton Thomas Private Wealth LLC grew its holdings in Alexandria Real Estate Equities by 13.5% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 12,229 shares of the real estate investment trust’s stock worth $1,430,000 after acquiring an additional 1,454 shares in the last quarter. Finally, PFG Investments LLC grew its stake in shares of Alexandria Real Estate Equities by 5.1% during the second quarter. PFG Investments LLC now owns 2,392 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 115 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Down 0.1 %

ARE stock opened at $97.30 on Thursday. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 59.33, a price-to-earnings-growth ratio of 3.87 and a beta of 1.16. The company has a fifty day moving average price of $104.87 and a 200 day moving average price of $113.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. Alexandria Real Estate Equities, Inc. has a 12 month low of $96.25 and a 12 month high of $130.15.

Alexandria Real Estate Equities (NYSE:ARE) last announced its 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 net margin of 9.62% and a return on equity of 1.31%. The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the previous year, the company posted $2.26 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $500.00 million in 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be 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 dividend yield of 5.43%. The ex-dividend date is Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 321.95%.

Wall Street Analyst Weigh In

A number of analysts have weighed in 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. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. Robert W. Baird lowered their price target on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, November 8th. JMP Securities cut their price objective on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a report on Friday, November 15th. Finally, BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $121.90.

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.