Panagora Asset Management Inc. Grows Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on Jun 12th, 2023

Panagora Asset Management Inc. increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 45.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,515 shares of the real estate investment trust’s stock after acquiring an additional 4,506 shares during the period. Panagora Asset Management Inc.’s holdings in Alexandria Real Estate Equities were worth $2,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis grew its position in Alexandria Real Estate Equities by 137.1% in the fourth quarter. Natixis now owns 37,324 shares of the real estate investment trust’s stock worth $5,437,000 after acquiring an additional 21,580 shares in the last quarter. Seeyond lifted its stake in Alexandria Real Estate Equities by 31.6% in the fourth quarter. Seeyond now owns 4,965 shares of the real estate investment trust’s stock worth $723,000 after purchasing an additional 1,193 shares during the last quarter. Ossiam lifted its stake in Alexandria Real Estate Equities by 62.5% in the fourth quarter. Ossiam now owns 2,051 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 789 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Alexandria Real Estate Equities in the fourth quarter worth about $228,000. Finally, Wealth Alliance bought a new stake in Alexandria Real Estate Equities in the fourth quarter worth about $275,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Alexandria Real Estate Equities from $180.00 to $145.00 in a research note on Monday, April 24th. Royal Bank of Canada decreased their price objective on shares of Alexandria Real Estate Equities from $198.00 to $166.00 in a research note on Thursday, May 4th. Evercore ISI cut their price objective on shares of 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. Finally, StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Insiders Place Their Bets

In related news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $42,935,458.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is currently owned by company insiders.

Alexandria Real Estate Equities Stock Performance

NYSE:ARE traded up $0.13 during trading hours on Monday, reaching $120.72. The company had a trading volume of 180,619 shares, compared to its average volume of 1,014,307. 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 market cap of $20.89 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. The business’s 50 day moving average price is $119.97 and its 200-day moving average price is $137.96. Alexandria Real Estate Equities, Inc. has a 1-year low of $110.64 and a 1-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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($1.71). The firm had revenue of $700.80 million during the quarter, compared to analyst estimates of $686.70 million. Alexandria Real Estate Equities had a return on equity of 3.77% and a net margin of 28.01%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. Research analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.95 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Thursday, June 29th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.21. Alexandria Real Estate Equities’s payout ratio is presently 106.84%.

Alexandria Real Estate Equities Company Profile

(Get Rating)

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.