Commerce Bank Increases Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by Defense World Staff on Aug 8th, 2023

Commerce Bank boosted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,933 shares of the real estate investment trust’s stock after purchasing an additional 158 shares during the period. Commerce Bank’s holdings in Alexandria Real Estate Equities were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Alexandria Real Estate Equities in the 4th quarter valued at approximately $2,277,135,000. Victory Capital Management Inc. raised its holdings in Alexandria Real Estate Equities by 14.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,536,788 shares of the real estate investment trust’s stock valued at $516,442,000 after acquiring an additional 446,033 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alexandria Real Estate Equities by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,358,930 shares of the real estate investment trust’s stock valued at $488,471,000 after acquiring an additional 74,359 shares in the last quarter. Northern Trust Corp boosted its stake in Alexandria Real Estate Equities by 2.1% during the 1st quarter. Northern Trust Corp now owns 2,291,076 shares of the real estate investment trust’s stock valued at $461,079,000 after acquiring an additional 46,933 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Alexandria Real Estate Equities by 52.0% during the 4th quarter. Centersquare Investment Management LLC now owns 1,676,456 shares of the real estate investment trust’s stock worth $244,209,000 after acquiring an additional 573,596 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of recent analyst reports. JMP Securities cut 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. Royal Bank of Canada reduced their target price on Alexandria Real Estate Equities from $198.00 to $166.00 in a report on Thursday, May 4th. Mizuho decreased their target price on Alexandria Real Estate Equities from $180.00 to $145.00 in a research report on Monday, April 24th. Evercore ISI dropped their price target on Alexandria Real Estate Equities from $141.00 to $137.00 in a research report on Monday, July 3rd. Finally, Jefferies Financial Group assumed coverage on shares of Alexandria Real Estate Equities in a report on Thursday, July 20th. They issued a “buy” rating and a $142.00 price objective for the company. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Read Our Latest Stock Analysis on ARE

Alexandria Real Estate Equities Trading Up 2.9 %

Shares of NYSE ARE opened at $124.22 on Tuesday. Alexandria Real Estate Equities, Inc. has a 12-month low of $108.81 and a 12-month high of $172.65. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 3.33 and a beta of 0.93. 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 stock’s 50 day simple moving average is $118.15 and its 200 day simple moving average is $129.31.

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 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($1.69). Alexandria Real Estate Equities had a return on equity of 2.54% and a net margin of 20.65%. The company had revenue of $713.90 million during the quarter, compared to analyst estimates of $700.22 million. During the same period in the prior year, the business earned $2.10 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 8.96 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.99%. 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 payout ratio is presently 147.18%.

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.