Corebridge Financial Inc. Sells 1,833 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Corebridge Financial Inc. reduced its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.7% during the fourth quarter, HoldingsChannel reports. The fund owned 36,952 shares of the real estate investment trust’s stock after selling 1,833 shares during the quarter. Corebridge Financial Inc.’s holdings in Alexandria Real Estate Equities were worth $3,605,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Alexandria Real Estate Equities by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 109 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $43,000. Spire Wealth Management raised its holdings in Alexandria Real Estate Equities by 72.5% during the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 250 shares during the period. Private Trust Co. NA lifted its position in shares of Alexandria Real Estate Equities by 113.6% during the third quarter. Private Trust Co. NA now owns 596 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 317 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Alexandria Real Estate Equities by 129.9% during the fourth quarter. Versant Capital Management Inc now owns 745 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 421 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush reiterated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. JMP Securities restated a “market outperform” rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a report on Monday, March 17th. They set a “hold” rating and a $100.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average price target of $118.60.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $95.58 on Monday. Alexandria Real Estate Equities, Inc. has a 52-week low of $93.25 and a 52-week high of $130.14. The company has a fifty day moving average of $98.01 and a 200-day moving average of $105.61. The company has a market capitalization of $16.54 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current 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 earnings per share (EPS) 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, equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

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

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 5.52%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 293.33%.

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.