Tyers Asset Management LLC grew its stake in Alexandria Real Estate Equities Inc (NYSE:ARE) by 44.8% during the 1st quarter, Holdings Channel reports. The firm owned 7,326 shares of the real estate investment trust’s stock after buying an additional 2,266 shares during the period. Tyers Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of ARE. Janney Montgomery Scott LLC raised its stake in shares of Alexandria Real Estate Equities by 7.8% in the first quarter. Janney Montgomery Scott LLC now owns 10,874 shares of the real estate investment trust’s stock worth $1,550,000 after acquiring an additional 784 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of Alexandria Real Estate Equities in the fourth quarter worth $2,058,000. Nordea Investment Management AB lifted its position in shares of Alexandria Real Estate Equities by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 307,269 shares of the real estate investment trust’s stock worth $35,409,000 after purchasing an additional 14,521 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Alexandria Real Estate Equities in the fourth quarter worth $539,000. Finally, Texas Permanent School Fund lifted its position in shares of Alexandria Real Estate Equities by 1.4% in the first quarter. Texas Permanent School Fund now owns 21,931 shares of the real estate investment trust’s stock worth $3,126,000 after purchasing an additional 304 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.
In other Alexandria Real Estate Equities news, Director Richard Hunter Klein sold 1,103 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $142.50, for a total value of $157,177.50. Following the transaction, the director now directly owns 10,617 shares in the company, valued at $1,512,922.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter M. Moglia sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $139.89, for a total transaction of $419,670.00. Following the completion of the transaction, the chief executive officer now owns 176,133 shares in the company, valued at $24,639,245.37. The disclosure for this sale can be found here. Insiders have sold 53,830 shares of company stock worth $7,637,557 over the last ninety days. Insiders own 1.43% of the company’s stock.
Several analysts have issued reports on ARE shares. Canaccord Genuity reaffirmed an “average” rating and set a $25.00 price target on shares of Alexandria Real Estate Equities in a research report on Thursday, March 7th. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Monday, March 4th. Barclays lowered shares of Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $130.00 to $136.00 in a research report on Thursday, April 4th. Finally, Mitsubishi UFJ Financial Group upped their price target on shares of Alexandria Real Estate Equities to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $108.57.
NYSE ARE traded down $1.20 on Friday, hitting $151.56. 7,971 shares of the stock were exchanged, compared to its average volume of 671,563. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.71. Alexandria Real Estate Equities Inc has a 52 week low of $109.04 and a 52 week high of $152.81. The firm has a market capitalization of $17.17 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 5.06 and a beta of 0.82.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($0.57). Alexandria Real Estate Equities had a return on equity of 4.91% and a net margin of 27.29%. The firm had revenue of $358.80 million for the quarter, compared to the consensus estimate of $356.93 million. During the same period last year, the company posted $1.62 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Alexandria Real Estate Equities Inc will post 6.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $1.00 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. This represents a $4.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, June 27th. Alexandria Real Estate Equities’s dividend payout ratio is 58.79%.
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About Alexandria Real Estate Equities
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.
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