Franklin Resources Inc. Cuts Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Franklin Resources Inc. decreased its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 41.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,236 shares of the real estate investment trust’s stock after selling 56,340 shares during the quarter. Franklin Resources Inc.’s holdings in Alexandria Real Estate Equities were worth $9,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARE. Catalyst Capital Advisors LLC purchased a new position in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Alexandria Real Estate Equities in the third quarter valued at $30,000. UMB Bank n.a. grew its stake in Alexandria Real Estate Equities by 132.8% during the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Alexandria Real Estate Equities during the 2nd quarter worth about $33,000. Finally, Venturi Wealth Management LLC raised its position in Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Up 1.9 %

Shares of NYSE ARE opened at $99.17 on Friday. The stock has a fifty day moving average price of $109.94 and a 200 day moving average price of $115.26. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. Alexandria Real Estate Equities, Inc. has a 12-month low of $97.21 and a 12-month high of $131.44. The company has a market cap of $17.33 billion, a P/E ratio of 60.47, a P/E/G ratio of 3.87 and a beta of 1.14.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The firm had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same quarter last year, the company posted $2.26 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

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

Alexandria Real Estate Equities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.32 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.32%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s payout ratio is presently 321.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ARE shares. BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. JMP Securities lowered their price target on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. Finally, Robert W. Baird cut their price target on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus price target of $124.82.

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.