State of Tennessee Treasury Department trimmed its position in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 24.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,139 shares of the real estate investment trust’s stock after selling 34,608 shares during the period. State of Tennessee Treasury Department owned 0.10% of Alexandria Real Estate Equities worth $15,559,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC boosted its stake in shares of Alexandria Real Estate Equities by 275.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 218 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 160 shares during the period. Riverview Trust Co acquired a new stake in shares of Alexandria Real Estate Equities in the 4th quarter valued at $32,000. Signaturefd LLC lifted its position in Alexandria Real Estate Equities by 41.0% during the 1st quarter. Signaturefd LLC now owns 454 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 132 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Alexandria Real Estate Equities by 53.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 683 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 239 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Alexandria Real Estate Equities by 53.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.
In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria acquired 975,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $9,750,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Hunter Klein sold 227 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $142.00, for a total transaction of $32,234.00. Following the completion of the transaction, the director now owns 10,390 shares in the company, valued at $1,475,380. The disclosure for this sale can be found here. Insiders have sold 25,727 shares of company stock worth $3,638,239 over the last quarter. 1.43% of the stock is owned by company insiders.
Alexandria Real Estate Equities stock traded up $1.03 during trading hours on Friday, hitting $141.09. 1,297,491 shares of the stock were exchanged, compared to its average volume of 1,143,797. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $16.02 billion, a PE ratio of 21.38, a P/E/G ratio of 4.70 and a beta of 0.82. Alexandria Real Estate Equities Inc has a 12 month low of $109.04 and a 12 month high of $153.51. The stock has a 50-day moving average of $146.64.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($0.57). Alexandria Real Estate Equities had a return on equity of 4.91% and a net margin of 27.29%. The firm had revenue of $358.80 million for the quarter, compared to the consensus estimate of $356.93 million. During the same period in the prior year, the company posted $1.62 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that Alexandria Real Estate Equities Inc will post 6.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.84%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. The ex-dividend date is Thursday, June 27th. Alexandria Real Estate Equities’s dividend payout ratio is presently 60.61%.
Several research analysts have recently issued reports on ARE shares. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Monday, March 4th. Mitsubishi UFJ Financial Group boosted their price objective on shares of Alexandria Real Estate Equities to $132.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Barclays cut shares of Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $130.00 to $136.00 in a research note on Thursday, April 4th. Finally, Canaccord Genuity reissued an “average” rating and issued a $25.00 target price on shares of Alexandria Real Estate Equities in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Alexandria Real Estate Equities has a consensus rating of “Buy” and a consensus price target of $108.57.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500® company, is an urban office real estate investment trust (“REIT”) uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet (“SF”) as of March 31, 2019.