Texas Permanent School Fund Corp raised its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,551 shares of the real estate investment trust’s stock after acquiring an additional 260 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Alexandria Real Estate Equities were worth $4,196,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ARE. Public Sector Pension Investment Board grew its stake in shares of Alexandria Real Estate Equities by 5.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 32,528 shares of the real estate investment trust’s stock worth $3,256,000 after acquiring an additional 1,617 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Alexandria Real Estate Equities by 42.0% in the third quarter. Wellington Management Group LLP now owns 17,464 shares of the real estate investment trust’s stock valued at $1,748,000 after buying an additional 5,168 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Alexandria Real Estate Equities by 2.4% in the fourth quarter. DNB Asset Management AS now owns 28,262 shares of the real estate investment trust’s stock valued at $3,583,000 after buying an additional 660 shares in the last quarter. Fulton Bank N.A. bought a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at $252,000. Finally, Czech National Bank grew its stake in shares of Alexandria Real Estate Equities by 0.6% in the fourth quarter. Czech National Bank now owns 27,392 shares of the real estate investment trust’s stock valued at $3,472,000 after buying an additional 175 shares in the last quarter. 96.54% of the stock is owned by institutional investors.
Analysts Set New Price Targets
ARE has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, April 24th. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Evercore ISI decreased their target price on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Moderate Buy” and an average price target of $136.75.
View Our Latest Research Report on ARE
Insider Transactions at Alexandria Real Estate Equities
In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Alexandria Real Estate Equities stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the sale, the insider now owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.15% of the company’s stock.
Alexandria Real Estate Equities Stock Up 1.0 %
ARE opened at $126.02 on Friday. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $22.04 billion, a P/E ratio of 117.78, a P/E/G ratio of 3.12 and a beta of 1.15. The stock has a fifty day moving average of $118.32 and a 200-day moving average of $121.19.
Alexandria Real Estate Equities Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, June 28th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. 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.
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