Resolution Capital Ltd Boosts Stake in Alexandria Real Estate Equities Inc (ARE)

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Resolution Capital Ltd lifted its stake in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 1.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,516,717 shares of the real estate investment trust’s stock after acquiring an additional 17,598 shares during the period. Alexandria Real Estate Equities makes up 7.0% of Resolution Capital Ltd’s investment portfolio, making the stock its 6th biggest position. Resolution Capital Ltd owned about 1.34% of Alexandria Real Estate Equities worth $216,223,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BTIM Corp. increased its position in Alexandria Real Estate Equities by 16.6% during the 1st quarter. BTIM Corp. now owns 24,965 shares of the real estate investment trust’s stock valued at $3,559,000 after purchasing an additional 3,550 shares during the period. Pennsylvania Trust Co acquired a new stake in Alexandria Real Estate Equities during the 1st quarter worth $2,340,000. Retirement Systems of Alabama boosted its stake in Alexandria Real Estate Equities by 1.7% during the 1st quarter. Retirement Systems of Alabama now owns 220,175 shares of the real estate investment trust’s stock worth $31,388,000 after purchasing an additional 3,727 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Alexandria Real Estate Equities by 7.1% in the first quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the real estate investment trust’s stock valued at $855,000 after buying an additional 400 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Alexandria Real Estate Equities in the first quarter valued at about $1,208,000. 99.14% of the stock is owned by institutional investors.

ARE has been the topic of a number of recent research reports. Canaccord Genuity reiterated an “average” rating and set a $24.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, December 18th. ValuEngine raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a report on Tuesday, January 29th. CIBC reiterated a “buy” rating and issued a $23.00 price objective on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 15th. Finally, Barclays cut Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $130.00 to $136.00 in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.38.

Alexandria Real Estate Equities stock traded down $1.71 during midday trading on Wednesday, reaching $137.51. 10,622 shares of the company were exchanged, compared to its average volume of 525,336. The stock has a market cap of $16.23 billion, a PE ratio of 20.80, a P/E/G ratio of 4.70 and a beta of 0.92. Alexandria Real Estate Equities Inc has a 1 year low of $109.04 and a 1 year high of $144.46. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, February 4th. The real estate investment trust reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.99). Alexandria Real Estate Equities had a return on equity of 5.28% and a net margin of 28.57%. The company had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $348.01 million. During the same quarter in the prior year, the business posted $1.53 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Alexandria Real Estate Equities Inc will post 6.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Thursday, March 28th. Alexandria Real Estate Equities’s dividend payout ratio is currently 58.79%.

In other news, insider Joel S. Marcus sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $130.01, for a total value of $1,300,100.00. Following the transaction, the insider now directly owns 557,312 shares of the company’s stock, valued at approximately $72,456,133.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Lawrence J. Diamond sold 1,000 shares of Alexandria Real Estate Equities stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $142.58, for a total value of $142,580.00. Following the completion of the transaction, the chief operating officer now directly owns 59,217 shares in the company, valued at $8,443,159.86. The disclosure for this sale can be found here. Insiders sold a total of 123,824 shares of company stock worth $16,878,086 over the last ninety days. Corporate insiders own 1.41% of the company’s stock.

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About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 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 $18.4 billion and an asset base in North America of 33.1 million square feet ("SF") as of December 31, 2018.

See Also: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Alexandria Real Estate Equities (NYSE:ARE)

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