Comerica Bank Buys 299 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on Apr 15th, 2023

Comerica Bank increased its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,652 shares of the real estate investment trust’s stock after buying an additional 299 shares during the quarter. Comerica Bank’s holdings in Alexandria Real Estate Equities were worth $3,694,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its position in shares of Alexandria Real Estate Equities by 4.4% during the fourth quarter. Arkadios Wealth Advisors now owns 1,730 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 73 shares during the period. Cetera Advisor Networks LLC boosted its stake in Alexandria Real Estate Equities by 7.3% during the first quarter. Cetera Advisor Networks LLC now owns 1,086 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 74 shares in the last quarter. Clean Yield Group boosted its stake in Alexandria Real Estate Equities by 10.7% during the third quarter. Clean Yield Group now owns 880 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 85 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Alexandria Real Estate Equities by 0.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,265 shares of the real estate investment trust’s stock worth $2,806,000 after buying an additional 89 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Alexandria Real Estate Equities by 8.4% during the first quarter. Advisory Services Network LLC now owns 1,270 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Alexandria Real Estate Equities Stock Down 0.9 %

Shares of ARE opened at $118.47 on Friday. The company has a market capitalization of $20.51 billion, a P/E ratio of 37.85, a PEG ratio of 1.78 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.35 and a quick ratio of 0.35. Alexandria Real Estate Equities, Inc. has a one year low of $114.94 and a one year high of $203.39. The business’s 50 day simple moving average is $138.44 and its 200-day simple moving average is $144.21.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($1.82). The company had revenue of $670.28 million for the quarter, compared to analyst estimates of $674.21 million. Alexandria Real Estate Equities had a return on equity of 2.80% and a net margin of 20.15%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company earned $1.97 EPS. As a group, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 8.95 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a dividend of $1.21 per share. The ex-dividend date was Thursday, March 30th. This represents a $4.84 annualized dividend and a yield of 4.09%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 154.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Alexandria Real Estate Equities from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Evercore ISI decreased their price objective on Alexandria Real Estate Equities from $155.00 to $144.00 and set an “outperform” rating on the stock in a report on Monday, March 27th. JMP Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of Alexandria Real Estate Equities in a report on Tuesday, January 31st. Robert W. Baird lifted their price objective on Alexandria Real Estate Equities from $162.00 to $174.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Finally, StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.63.

Insider Buying and Selling

In other Alexandria Real Estate Equities news, Director Hunter Kass sold 3,803 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $167.45, for a total transaction of $636,812.35. Following the transaction, the director now owns 87,850 shares of the company’s stock, valued at approximately $14,710,482.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alexandria Real Estate Equities news, Director Hunter Kass sold 3,803 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $167.45, for a total transaction of $636,812.35. Following the transaction, the director now directly owns 87,850 shares in the company, valued at approximately $14,710,482.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marc E. Binda sold 3,298 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $167.21, for a total transaction of $551,458.58. Following the transaction, the executive vice president now owns 67,005 shares in the company, valued at $11,203,906.05. The disclosure for this sale can be found here. Insiders have sold a total of 16,101 shares of company stock worth $2,700,271 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

About Alexandria Real Estate Equities

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Alexandria Real Estate Equities, Inc engages in the business of providing space for lease. The firm is also an owner, operator, and developer of life science, agrotechnology, and technology campuses in Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.