Vestcor Inc Cuts Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Vestcor Inc has decreased its holdings in Alexandria Real Estate Equities by 64.6%, owning 14,471 shares after selling 26,400 shares in the first quarter.
• Alexandria Real Estate Equities has recently seen a reduction in price targets from several research firms, with BNP Paribas Exane lowering its estimate from $111.00 to $85.00.
• The company declared a quarterly dividend of $1.32 per share, resulting in an annualized yield of 6.9%, despite a payout ratio of -4,061.54%.

Vestcor Inc lessened its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,471 shares of the real estate investment trust's stock after selling 26,400 shares during the period. Vestcor Inc's holdings in Alexandria Real Estate Equities were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Alexandria Real Estate Equities by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,135,591 shares of the real estate investment trust's stock worth $402,450,000 after purchasing an additional 96,771 shares during the period. Capital World Investors acquired a new position in shares of Alexandria Real Estate Equities during the 4th quarter worth approximately $326,959,000. Northern Trust Corp raised its stake in shares of Alexandria Real Estate Equities by 67.9% during the 4th quarter. Northern Trust Corp now owns 2,565,406 shares of the real estate investment trust's stock worth $250,255,000 after buying an additional 1,037,413 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alexandria Real Estate Equities by 1,038.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,610,074 shares of the real estate investment trust's stock worth $157,063,000 after buying an additional 1,468,644 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Alexandria Real Estate Equities by 24.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,193,491 shares of the real estate investment trust's stock worth $116,425,000 after buying an additional 231,469 shares during the period. Hedge funds and other institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Trading Up 1.5%

Shares of ARE stock traded up $1.15 during trading on Monday, hitting $77.16. 1,303,071 shares of the stock traded hands, compared to its average volume of 1,709,662. The firm has a market capitalization of $13.35 billion, a P/E ratio of -593.54, a price-to-earnings-growth ratio of 6.40 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. The firm's fifty day moving average price is $74.85 and its 200-day moving average price is $83.60. Alexandria Real Estate Equities, Inc. has a 52-week low of $67.37 and a 52-week high of $125.63.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.04. The firm had revenue of $737.28 million during the quarter, compared to the consensus estimate of $748.02 million. Alexandria Real Estate Equities had a negative net margin of 0.33% and a negative return on equity of 0.05%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.36 EPS. As a group, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

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

Analysts Set New Price Targets

ARE has been the topic of several research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Evercore ISI lowered their price objective on Alexandria Real Estate Equities from $103.00 to $91.00 in a report on Wednesday, April 30th. Mizuho lowered their price objective on Alexandria Real Estate Equities from $121.00 to $91.00 in a report on Thursday, June 12th. Jefferies Financial Group lowered their price objective on Alexandria Real Estate Equities from $100.00 to $82.00 in a report on Friday, April 11th. Finally, Citigroup lowered their price objective on Alexandria Real Estate Equities from $110.00 to $74.00 in a report on Monday, June 2nd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of "Hold" and a consensus target price of $97.17.

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.