Cetera Investment Advisers increased its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 106.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,767 shares of the real estate investment trust’s stock after purchasing an additional 8,637 shares during the period. Cetera Investment Advisers’ holdings in Alexandria Real Estate Equities were worth $2,162,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities in the 4th quarter worth $2,086,085,000. M&G Plc acquired a new stake in Alexandria Real Estate Equities in the 1st quarter valued at about $204,001,000. Jennison Associates LLC boosted its position in shares of Alexandria Real Estate Equities by 180.3% during the 4th quarter. Jennison Associates LLC now owns 1,010,943 shares of the real estate investment trust’s stock valued at $128,157,000 after purchasing an additional 650,248 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Alexandria Real Estate Equities by 153.0% in the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after purchasing an additional 470,076 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter worth approximately $55,075,000. 96.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alexandria Real Estate Equities
In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ARE shares. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Evercore ISI cut Alexandria Real Estate Equities from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $133.00 to $126.00 in a report on Thursday, July 25th. Royal Bank of Canada reduced their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their price target for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $131.22.
View Our Latest Stock Analysis on Alexandria Real Estate Equities
Alexandria Real Estate Equities Stock Down 1.8 %
Shares of Alexandria Real Estate Equities stock opened at $111.64 on Tuesday. Alexandria Real Estate Equities, Inc. has a 1 year low of $90.73 and a 1 year high of $135.45. The company has a market cap of $19.52 billion, a P/E ratio of 104.34, a P/E/G ratio of 4.00 and a beta of 1.15. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $117.62 and a 200 day moving average price of $120.11.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). The company had revenue of $766.70 million during the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. As a group, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.48 EPS for the current fiscal year.
Alexandria Real Estate Equities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.66%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 28th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 485.98%.
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.
See Also
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