Avalon Investment & Advisory raised its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,409 shares of the real estate investment trust’s stock after buying an additional 2,125 shares during the quarter. Avalon Investment & Advisory owned 0.06% of Alexandria Real Estate Equities worth $14,497,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ronald Blue Trust Inc. acquired a new stake in Alexandria Real Estate Equities during the second quarter valued at $25,000. Glassman Wealth Services grew its stake in shares of Alexandria Real Estate Equities by 137.2% in the 2nd quarter. Glassman Wealth Services now owns 204 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 118 shares in the last quarter. Private Trust Co. NA acquired a new position in Alexandria Real Estate Equities in the second quarter worth approximately $43,000. Clear Street Markets LLC raised its position in Alexandria Real Estate Equities by 420.0% during the second quarter. Clear Street Markets LLC now owns 312 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 252 shares in the last quarter. Finally, American National Bank lifted its stake in Alexandria Real Estate Equities by 1,364.3% in the third quarter. American National Bank now owns 410 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 382 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.
Alexandria Real Estate Equities Stock Up 1.4 %
Shares of NYSE:ARE opened at $155.88 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.50. The firm has a market cap of $25.58 billion, a P/E ratio of 47.38, a P/E/G ratio of 2.14 and a beta of 0.91. Alexandria Real Estate Equities, Inc. has a 12 month low of $126.74 and a 12 month high of $211.09. The company’s 50-day moving average price is $148.66 and its two-hundred day moving average price is $148.90.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.01). Alexandria Real Estate Equities had a net margin of 21.73% and a return on equity of 3.03%. The company had revenue of $659.90 million during the quarter, compared to analyst estimates of $657.48 million. During the same period in the prior year, the business earned $1.95 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.41 EPS for the current fiscal year.
Alexandria Real Estate Equities Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be issued a $1.21 dividend. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, December 29th. This represents a $4.84 annualized dividend and a yield of 3.10%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 147.11%.
Insider Buying and Selling
In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $151.89, for a total transaction of $303,780.00. Following the transaction, the chief executive officer now directly owns 167,099 shares in the company, valued at approximately $25,380,667.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Marc E. Binda sold 3,316 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $154.00, for a total value of $510,664.00. Following the sale, the executive vice president now directly owns 49,413 shares in the company, valued at approximately $7,609,602. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter M. Moglia sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $151.89, for a total transaction of $303,780.00. Following the completion of the sale, the chief executive officer now directly owns 167,099 shares of the company’s stock, valued at approximately $25,380,667.11. The disclosure for this sale can be found here. Insiders sold a total of 34,253 shares of company stock worth $5,179,946 over the last three months. 0.96% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ARE. BTIG Research cut their price target on shares of Alexandria Real Estate Equities from $233.00 to $186.00 in a report on Wednesday, October 19th. Evercore ISI decreased their price target on Alexandria Real Estate Equities to $168.00 in a research note on Friday, December 2nd. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, November 10th. StockNews.com initiated coverage on Alexandria Real Estate Equities in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Robert W. Baird raised their price target on shares of Alexandria Real Estate Equities from $151.00 to $162.00 in a research report on Friday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.43.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).