AGF Management Ltd. lifted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,308 shares of the real estate investment trust’s stock after buying an additional 1,937 shares during the period. AGF Management Ltd.’s holdings in Alexandria Real Estate Equities were worth $2,676,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ARE. EverSource Wealth Advisors LLC raised its position in Alexandria Real Estate Equities by 107.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 253 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 131 shares during the period. Resurgent Financial Advisors LLC bought a new stake in shares of Alexandria Real Estate Equities in the fourth quarter valued at $38,000. Addison Advisors LLC lifted its position in shares of Alexandria Real Estate Equities by 94.8% during the 4th quarter. Addison Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 145 shares during the last quarter. HM Payson & Co. grew its stake in shares of Alexandria Real Estate Equities by 100.0% during the 1st quarter. HM Payson & Co. now owns 400 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 200 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Alexandria Real Estate Equities in the 1st quarter worth about $61,000. 85.60% of the stock is owned by institutional investors.
Insider Buying and Selling at Alexandria Real Estate Equities
In other 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 value of $916,500.00. Following the sale, the chairman now directly owns 351,354 shares of the company’s stock, valued at approximately $42,935,458.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.
Alexandria Real Estate Equities Price Performance
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($1.69). The company had revenue of $713.90 million for the quarter, compared to analysts’ expectations of $700.22 million. Alexandria Real Estate Equities had a net margin of 20.65% and a return on equity of 2.54%. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 EPS. On average, equities research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 8.95 earnings per share for the current year.
Alexandria Real Estate Equities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $1.24 dividend. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $4.96 dividend on an annualized basis and a yield of 3.92%. Alexandria Real Estate Equities’s dividend payout ratio is 147.18%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ARE. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a report on Thursday, July 20th. They set a “buy” rating and a $142.00 target price on the stock. Mizuho lowered their price objective on Alexandria Real Estate Equities from $180.00 to $145.00 in a research report on Monday, April 24th. JMP Securities cut their price objective on Alexandria Real Estate Equities from $180.00 to $160.00 and set a “market outperform” rating for the company in a report on Wednesday, July 26th. Finally, Royal Bank of Canada cut their price target on shares of Alexandria Real Estate Equities from $198.00 to $166.00 in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.
Alexandria Real Estate Equities Profile
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.
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