Resona Asset Management Co. Ltd. Purchases New Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Resona Asset Management Co. Ltd. acquired a new position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 86,721 shares of the real estate investment trust’s stock, valued at approximately $8,510,000. Resona Asset Management Co. Ltd. owned approximately 0.05% of Alexandria Real Estate Equities as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Alexandria Real Estate Equities by 57.7% in the 4th 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. Callan Capital LLC grew its holdings in shares of Alexandria Real Estate Equities by 1.3% in the fourth quarter. Callan Capital LLC now owns 8,946 shares of the real estate investment trust’s stock valued at $873,000 after acquiring an additional 111 shares in the last quarter. M&T Bank Corp increased its position in shares of Alexandria Real Estate Equities by 0.7% during the fourth quarter. M&T Bank Corp now owns 19,478 shares of the real estate investment trust’s stock valued at $1,901,000 after acquiring an additional 127 shares during the last quarter. Garland Capital Management Inc. lifted its holdings in Alexandria Real Estate Equities by 0.6% during the fourth quarter. Garland Capital Management Inc. now owns 29,580 shares of the real estate investment trust’s stock worth $2,886,000 after acquiring an additional 175 shares during the period. Finally, Private Trust Co. NA boosted its position in Alexandria Real Estate Equities by 30.2% in the fourth quarter. Private Trust Co. NA now owns 776 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 180 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARE has been the subject of several research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Royal Bank of Canada lowered their price objective 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 report on Tuesday, December 17th. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They set a “hold” rating and a $100.00 price target for the company. Finally, 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, January 29th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Hold” and an average target price of $118.60.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $77.81 on Tuesday. The stock has a fifty day moving average of $96.25 and a 200-day moving average of $104.06. The stock has a market cap of $13.47 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24. 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, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 6.79%. The ex-dividend date is Monday, March 31st. Alexandria Real Estate Equities’s payout ratio is 293.33%.

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

About Alexandria Real Estate Equities

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.