Integrated Wealth Concepts LLC Acquires 2,654 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on Aug 3rd, 2023

Integrated Wealth Concepts LLC lifted its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 169.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,218 shares of the real estate investment trust’s stock after purchasing an additional 2,654 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alexandria Real Estate Equities were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ARE. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at about $2,277,135,000. Centersquare Investment Management LLC boosted its position in shares of Alexandria Real Estate Equities by 188.7% during the 1st quarter. Centersquare Investment Management LLC now owns 1,341,308 shares of the real estate investment trust’s stock valued at $269,938,000 after purchasing an additional 876,725 shares in the last quarter. Deutsche Bank AG raised its stake in Alexandria Real Estate Equities by 318.0% during 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 raised its stake in Alexandria Real Estate Equities by 3,924.1% during 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. raised its stake in Alexandria Real Estate Equities by 14.4% during 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. Institutional investors own 85.60% of the company’s stock.

Insider Buying and Selling at Alexandria Real Estate Equities

In other news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $122.20, for a total value of $916,500.00. Following the completion of the transaction, the chairman now directly owns 351,354 shares of the company’s stock, valued at $42,935,458.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $122.22 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 1.45 and a beta of 0.93. The stock has a 50 day moving average of $117.75 and a 200 day moving average of $129.97. Alexandria Real Estate Equities, Inc. has a 12 month low of $108.81 and a 12 month high of $172.65.

Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last issued its quarterly 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 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%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 earnings per share. As a group, sell-side analysts forecast 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 dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.06%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Thursday, June 29th. Alexandria Real Estate Equities’s dividend payout ratio is 147.18%.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of research reports. JMP Securities dropped their price target on 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. Royal Bank of Canada dropped their price target on Alexandria Real Estate Equities from $198.00 to $166.00 in a research note on Thursday, May 4th. Evercore ISI dropped their price target on Alexandria Real Estate Equities from $141.00 to $137.00 in a research note on Monday, July 3rd. Jefferies Financial Group began coverage on Alexandria Real Estate Equities in a research note on Thursday, July 20th. They issued a “buy” rating and a $142.00 price objective for the company. Finally, StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. One investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Read Our Latest Report on ARE

Alexandria Real Estate Equities 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.