Van ECK Associates Corp Buys 874 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on Jul 31st, 2023

Van ECK Associates Corp increased its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,299 shares of the real estate investment trust’s stock after buying an additional 874 shares during the period. Van ECK Associates Corp’s holdings in Alexandria Real Estate Equities were worth $6,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ARE. Norges Bank bought a new position in Alexandria Real Estate Equities in the 4th quarter worth approximately $2,277,135,000. Centersquare Investment Management LLC boosted its holdings in Alexandria Real Estate Equities by 188.7% in the 1st quarter. Centersquare Investment Management LLC now owns 1,341,308 shares of the real estate investment trust’s stock worth $269,938,000 after buying an additional 876,725 shares during the period. Deutsche Bank AG boosted its holdings in Alexandria Real Estate Equities by 318.0% in the 4th quarter. Deutsche Bank AG now owns 1,057,562 shares of the real estate investment trust’s stock worth $154,055,000 after buying an additional 804,563 shares during the period. Heitman Real Estate Securities LLC boosted its holdings in Alexandria Real Estate Equities by 3,924.1% in the 4th quarter. Heitman Real Estate Securities LLC now owns 538,222 shares of the real estate investment trust’s stock worth $78,403,000 after buying an additional 524,847 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Alexandria Real Estate Equities by 14.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,536,788 shares of the real estate investment trust’s stock worth $516,442,000 after buying an additional 446,033 shares during the period. 85.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho cut their price objective on shares of Alexandria Real Estate Equities from $180.00 to $145.00 in a report on Monday, April 24th. Jefferies Financial Group assumed coverage on shares of Alexandria Real Estate Equities in a research note on Thursday, July 20th. They issued a “buy” rating and a $142.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Alexandria Real Estate Equities from $198.00 to $166.00 in a research note on Thursday, May 4th. Evercore ISI lowered their target price on shares of Alexandria Real Estate Equities from $141.00 to $137.00 in a research note on Monday, July 3rd. Finally, JMP Securities lowered their target price on shares of Alexandria Real Estate Equities from $180.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Alexandria Real Estate Equities Stock Performance

Alexandria Real Estate Equities stock opened at $126.51 on Monday. The stock has a market cap of $21.89 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92. The firm’s fifty day moving average price is $117.36 and its 200-day moving average price is $130.48. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $108.81 and a fifty-two week high of $172.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.53 and a current ratio of 0.39.

Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($1.69). The business had revenue of $713.90 million during the quarter, compared to analysts’ expectations of $700.22 million. Alexandria Real Estate Equities had a return on equity of 2.54% and a net margin of 20.65%. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. On average, equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 8.95 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was 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 dividend payout ratio (DPR) is 147.18%.

Insiders Place Their Bets

In other Alexandria Real Estate Equities 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 value of $916,500.00. Following the sale, the chairman now owns 351,354 shares of the company’s stock, valued at approximately $42,935,458.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Alexandria Real Estate Equities Company Profile

(Free Report)

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since its founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.