Legal & General Group Plc Decreases Stock Holdings in Alexandria Real Estate Equities, Inc. $ARE

Key Points

• Legal & General cut its stake in Alexandria Real Estate Equities by 7.5% in Q3, selling 171,361 shares and ending the quarter with 2,106,767 shares (about 1.22% of the company) valued at $175.6 million.
• The company’s board authorized a $500 million share repurchase (up to ~6.4% of shares) and declared a quarterly dividend of $0.72 (annualized $2.88), implying a ~5.7% yield.
• Wall Street has a consensus rating of "Hold" on ARE with an average price target of $65.33, following mixed analyst moves that included several price cuts and some upgrades.

Legal & General Group Plc lessened its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,106,767 shares of the real estate investment trust's stock after selling 171,361 shares during the quarter. Legal & General Group Plc owned approximately 1.22% of Alexandria Real Estate Equities worth $175,578,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ARE. Norges Bank acquired a new stake in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $1,195,306,000. Lasalle Investment Management Securities LLC lifted its position in shares of Alexandria Real Estate Equities by 89.2% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 1,175,406 shares of the real estate investment trust's stock worth $85,370,000 after buying an additional 554,236 shares during the last quarter. Invesco Ltd. grew its position in shares of Alexandria Real Estate Equities by 16.8% in the 2nd quarter. Invesco Ltd. now owns 3,676,318 shares of the real estate investment trust's stock valued at $267,011,000 after buying an additional 528,575 shares during the last quarter. AQR Capital Management LLC raised its stake in Alexandria Real Estate Equities by 34.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,033,247 shares of the real estate investment trust's stock worth $145,601,000 after acquiring an additional 515,405 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Alexandria Real Estate Equities by 114.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 757,533 shares of the real estate investment trust's stock valued at $55,020,000 after acquiring an additional 404,938 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ARE shares. Robert W. Baird dropped their price target on Alexandria Real Estate Equities from $73.00 to $67.00 and set an "outperform" rating on the stock in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Alexandria Real Estate Equities in a report on Wednesday, January 21st. Evercore upped their price objective on Alexandria Real Estate Equities from $64.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, January 28th. Morgan Stanley decreased their price target on Alexandria Real Estate Equities from $55.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, February 9th. Finally, Citigroup dropped their price target on shares of Alexandria Real Estate Equities from $61.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of "Hold" and an average price target of $65.33.

Alexandria Real Estate Equities Price Performance

NYSE:ARE opened at $50.23 on Friday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of -5.95, a price-to-earnings-growth ratio of 6.08 and a beta of 1.31. Alexandria Real Estate Equities, Inc. has a 12-month low of $44.10 and a 12-month high of $101.21. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.65. The company's 50-day moving average is $54.16 and its two-hundred day moving average is $61.78.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The real estate investment trust reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.01. Alexandria Real Estate Equities had a negative return on equity of 6.82% and a negative net margin of 47.23%.The company had revenue of $754.41 million during the quarter, compared to the consensus estimate of $742.64 million. During the same period in the previous year, the firm posted $2.39 EPS. Alexandria Real Estate Equities's revenue was down 4.4% on a year-over-year basis. Alexandria Real Estate Equities has set its FY 2026 guidance at 6.250-6.550 EPS. Research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.72 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.88 dividend on an annualized basis and a yield of 5.7%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently -34.12%.

Alexandria Real Estate Equities announced that its board has initiated a share repurchase plan on Monday, December 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Alexandria Real Estate Equities

In other news, Chairman Joel S. Marcus bought 25,000 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was acquired at an average price of $53.92 per share, for a total transaction of $1,348,000.00. Following the acquisition, the chairman owned 562,724 shares of the company's stock, valued at $30,342,078.08. This trade represents a 4.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.08% of the stock is currently owned by company insiders.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc NYSE: ARE is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company's properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.

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