State of New Jersey Common Pension Fund D Reduces Stock Holdings in Alexandria Real Estate Equities, Inc. $ARE

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Alexandria Real Estate Equities by 2.6%, selling 4,120 shares and now owns approximately 0.09% of the company valued at $14.26 million.
• Alexandria Real Estate Equities reported earnings of $2.33 per share for the last quarter, surpassing estimates, but experienced a 0.6% decline in year-over-year revenue.
• The company announced a quarterly dividend of $1.32, translating to an annualized yield of 6.9%, although it reported an extremely high dividend payout ratio of -4,061.54%.

State of New Jersey Common Pension Fund D trimmed its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,105 shares of the real estate investment trust's stock after selling 4,120 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of Alexandria Real Estate Equities worth $14,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Alexandria Real Estate Equities by 5.2% in the 1st quarter. American Century Companies Inc. now owns 58,711 shares of the real estate investment trust's stock valued at $5,431,000 after buying an additional 2,892 shares in the last quarter. Aberdeen Group plc increased its position in Alexandria Real Estate Equities by 72.0% in the 1st quarter. Aberdeen Group plc now owns 235,428 shares of the real estate investment trust's stock valued at $21,824,000 after buying an additional 98,581 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Alexandria Real Estate Equities in the 1st quarter valued at about $256,000. Inspire Trust Co. N.A. increased its position in Alexandria Real Estate Equities by 15.4% in the 1st quarter. Inspire Trust Co. N.A. now owns 15,000 shares of the real estate investment trust's stock valued at $1,388,000 after buying an additional 2,000 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in Alexandria Real Estate Equities by 500.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 88,516 shares of the real estate investment trust's stock valued at $8,189,000 after buying an additional 73,780 shares in the last quarter. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE traded down $0.1120 during midday trading on Thursday, reaching $77.3480. The company's stock had a trading volume of 716,073 shares, compared to its average volume of 1,600,834. Alexandria Real Estate Equities, Inc. has a 12-month low of $67.37 and a 12-month high of $125.63. The firm has a 50 day moving average price of $76.13 and a 200-day moving average price of $81.65. The stock has a market capitalization of $13.38 billion, a P/E ratio of -594.98, a PEG ratio of 6.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last announced its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.04. Alexandria Real Estate Equities had a negative return on equity of 0.05% and a negative net margin of 0.33%.The firm had revenue of $737.28 million for the quarter, compared to the consensus estimate of $748.02 million. During the same quarter in the previous year, the business earned $2.36 EPS. The company's revenue was down .6% compared to the same quarter last year. Alexandria Real Estate Equities has set its FY 2025 guidance at 9.160-9.360 EPS. As a group, equities analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.32 dividend. The ex-dividend date was Monday, June 30th. This represents a $5.28 annualized dividend and a yield of 6.8%. Alexandria Real Estate Equities's dividend payout ratio is presently -4,061.54%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup decreased their target price on Alexandria Real Estate Equities from $110.00 to $74.00 in a research report on Monday, June 2nd. JMP Securities reissued a "market outperform" rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Royal Bank Of Canada decreased their price objective on Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their price objective on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, May 20th. Finally, Evercore ISI decreased their price objective on Alexandria Real Estate Equities from $103.00 to $91.00 in a report on Wednesday, April 30th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of "Hold" and a consensus target price of $97.17.

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.