Research & Management Inc. trimmed its stake in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 2,942 shares of the real estate investment trust’s stock after selling 210 shares during the period. New England Research & Management Inc.’s holdings in Alexandria Real Estate Equities were worth $453,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth approximately $30,000. CSat Investment Advisory L.P. increased its stake in shares of Alexandria Real Estate Equities by 65.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 224 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 89 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Alexandria Real Estate Equities by 883.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 295 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 265 shares in the last quarter. Signaturefd LLC increased its stake in shares of Alexandria Real Estate Equities by 19.2% during the 2nd quarter. Signaturefd LLC now owns 541 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 87 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth approximately $95,000. Institutional investors own 98.68% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Alexandria Real Estate Equities from $157.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. GMP Securities reissued an “average” rating and set a $26.00 price objective on shares of Alexandria Real Estate Equities in a research note on Thursday, August 1st. TD Securities dropped their price objective on shares of Alexandria Real Estate Equities from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, November 4th. DA Davidson raised their price objective on shares of Alexandria Real Estate Equities to $166.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Robert W. Baird set a $152.00 price objective on shares of Alexandria Real Estate Equities and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $105.73.
Shares of ARE traded up $0.03 during mid-day trading on Friday, reaching $153.91. 571,263 shares of the company’s stock were exchanged, compared to its average volume of 717,806. The company has a market cap of $17.59 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 4.33 and a beta of 0.71. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.76. Alexandria Real Estate Equities Inc has a 52-week low of $109.04 and a 52-week high of $160.25. The company has a 50-day simple moving average of $155.22 and a two-hundred day simple moving average of $148.38.
Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 28th. The real estate investment trust reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($2.19). The firm had revenue of $390.50 million during the quarter, compared to analysts’ expectations of $389.99 million. Alexandria Real Estate Equities had a return on equity of 1.63% and a net margin of 9.29%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, equities research analysts predict that Alexandria Real Estate Equities Inc will post 6.97 EPS for the current fiscal year.
The company also recently announced a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a yield of 2.6%. Alexandria Real Estate Equities’s payout ratio is currently 60.61%.
In other Alexandria Real Estate Equities news, EVP John H. Cunningham sold 6,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $144.00, for a total value of $864,000.00. Following the completion of the sale, the executive vice president now directly owns 42,595 shares of the company’s stock, valued at approximately $6,133,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $154.49, for a total transaction of $1,158,675.00. Following the completion of the sale, the chairman now directly owns 438,462 shares of the company’s stock, valued at $67,737,994.38. The disclosure for this sale can be found here. Insiders sold a total of 29,183 shares of company stock valued at $4,409,057 over the last ninety days. 1.43% of the stock is owned by corporate insiders.
Alexandria Real Estate Equities Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust (“REIT”) uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet (“SF”) as of March 31, 2019.
