Bank of Nova Scotia Has $1.52 Million Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on May 23rd, 2023

Bank of Nova Scotia boosted its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 100.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,402 shares of the real estate investment trust’s stock after buying an additional 5,206 shares during the period. Bank of Nova Scotia’s holdings in Alexandria Real Estate Equities were worth $1,515,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ARE. Raymond James Financial Services Advisors Inc. grew its stake in Alexandria Real Estate Equities by 8.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,377 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 348 shares during the last quarter. American Century Companies Inc. boosted its holdings in Alexandria Real Estate Equities by 242.4% in the 1st quarter. American Century Companies Inc. now owns 4,499 shares of the real estate investment trust’s stock valued at $906,000 after purchasing an additional 3,185 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Alexandria Real Estate Equities by 14.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,753 shares of the real estate investment trust’s stock valued at $957,000 after purchasing an additional 598 shares during the period. HighTower Advisors LLC boosted its holdings in Alexandria Real Estate Equities by 11.7% in the 1st quarter. HighTower Advisors LLC now owns 5,903 shares of the real estate investment trust’s stock valued at $1,187,000 after purchasing an additional 620 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of Alexandria Real Estate Equities by 7.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,086 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARE. JPMorgan Chase & Co. upped their price target on shares of Alexandria Real Estate Equities from $176.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Evercore ISI cut their price target on shares of Alexandria Real Estate Equities from $155.00 to $144.00 and set an “outperform” rating for the company in a report on Monday, March 27th. Robert W. Baird upped their price target on shares of Alexandria Real Estate Equities from $162.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, Royal Bank of Canada cut their price target on shares of Alexandria Real Estate Equities from $198.00 to $166.00 in a report on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Insider Activity

In other news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $122.20, for a total transaction of $916,500.00. Following the completion of the transaction, the chairman now owns 351,354 shares of the company’s stock, valued at $42,935,458.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE opened at $117.69 on Tuesday. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.33 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $121.74 and a 200 day simple moving average of $141.23. Alexandria Real Estate Equities, Inc. has a one year low of $114.92 and a one year high of $172.65.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $2.15 by ($1.71). The company had revenue of $700.80 million during the quarter, compared to the consensus estimate of $686.70 million. Alexandria Real Estate Equities had a net margin of 28.01% and a return on equity of 3.77%. Alexandria Real Estate Equities’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Research analysts predict that Alexandria Real Estate Equities, Inc. will post 8.95 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, March 30th. Alexandria Real Estate Equities’s payout ratio is currently 106.84%.

Alexandria Real Estate Equities Profile

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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.