IFM Investors Pty Ltd raised its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 12.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,845 shares of the real estate investment trust’s stock after buying an additional 2,707 shares during the quarter. IFM Investors Pty Ltd’s holdings in Alexandria Real Estate Equities were worth $4,799,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ARE. Industrial Alliance Investment Management Inc. purchased a new stake in Alexandria Real Estate Equities in the fourth quarter valued at about $26,000. Confluence Wealth Services Inc. purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth about $27,000. Cordasco Financial Network purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth about $48,000. Covestor Ltd purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth about $55,000. Finally, Clearview Wealth Advisors LLC raised its stake in shares of Alexandria Real Estate Equities by 23.7% in the fourth quarter. Clearview Wealth Advisors LLC now owns 313 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 94.49% of the company’s stock.
ARE has been the subject of several research analyst reports. Mizuho reduced their price objective on Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. StockNews.com cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. TheStreet lowered Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. Finally, Credit Suisse Group assumed coverage on Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They set a “neutral” rating and a $140.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.17.
Shares of ARE opened at $144.50 on Wednesday. The firm has a market cap of $23.59 billion, a P/E ratio of 51.79, a PEG ratio of 2.21 and a beta of 0.85. Alexandria Real Estate Equities, Inc. has a 12 month low of $130.00 and a 12 month high of $224.95. The stock’s 50 day moving average is $162.50 and its two-hundred day moving average is $186.67. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.51.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.71). The company had revenue of $615.10 million during the quarter, compared to analysts’ expectations of $595.35 million. Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. Alexandria Real Estate Equities’s revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. Equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 3.27%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, June 29th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 164.88%.
In other news, CEO Stephen Richardson sold 5,000 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $171.47, for a total value of $857,350.00. Following the completion of the sale, the chief executive officer now directly owns 175,602 shares in the company, valued at $30,110,474.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jackie B. Clem sold 1,865 shares of the stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $189.55, for a total transaction of $353,510.75. Following the completion of the sale, the general counsel now owns 24,039 shares of the company’s stock, valued at $4,556,592.45. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
Alexandria Real Estate Equities Company Profile (Get Rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).
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