CAPROCK Group Inc. increased its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,473 shares of the real estate investment trust’s stock after acquiring an additional 84 shares during the period. CAPROCK Group Inc.’s holdings in Alexandria Real Estate Equities were worth $298,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ARE. Industrial Alliance Investment Management Inc. acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $26,000. Confluence Wealth Services Inc. acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $27,000. Cordasco Financial Network acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $48,000. Covestor Ltd acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $55,000. Finally, Dark Forest Capital Management LP acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at about $57,000. 94.49% of the stock is currently owned by institutional investors.
NYSE:ARE opened at $143.53 on Friday. The stock’s 50 day moving average price is $164.54 and its 200 day moving average price is $187.60. The company has a market capitalization of $23.43 billion, a PE ratio of 51.44, a P/E/G ratio of 2.13 and a beta of 0.85. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.51. Alexandria Real Estate Equities, Inc. has a 52-week low of $130.00 and a 52-week high of $224.95.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.71). The firm had revenue of $615.10 million for 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%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 8.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, June 29th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 164.88%.
A number of research firms have recently commented on ARE. StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Mizuho dropped their price objective on Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating on the stock in a report on Thursday. Credit Suisse Group began coverage on Alexandria Real Estate Equities in a report on Wednesday. They issued a “neutral” rating and a $140.00 price objective on the stock. Finally, TheStreet downgraded Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.17.
In other Alexandria Real Estate Equities news, CEO Stephen Richardson sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $171.47, for a total value of $857,350.00. Following the transaction, the chief executive officer now directly owns 175,602 shares in the company, valued at approximately $30,110,474.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jackie B. Clem sold 1,865 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $189.55, for a total value of $353,510.75. Following the completion of the transaction, the general counsel now owns 24,039 shares in the company, 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.
About Alexandria Real Estate Equities (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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