Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,390,000 shares, an increase of 20.6% from the September 15th total of 2,810,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 3.3 days.
Hedge Funds Weigh In On Alexandria Real Estate Equities
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Alexandria Real Estate Equities by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after purchasing an additional 156,643 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Alexandria Real Estate Equities by 0.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock worth $476,455,000 after purchasing an additional 35,216 shares during the period. M&G Plc raised its stake in shares of Alexandria Real Estate Equities by 4.9% during the 2nd quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock worth $194,114,000 after purchasing an additional 77,686 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Alexandria Real Estate Equities by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock worth $122,934,000 after purchasing an additional 10,576 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Alexandria Real Estate Equities by 0.7% during the 1st quarter. Jennison Associates LLC now owns 1,017,986 shares of the real estate investment trust’s stock worth $131,229,000 after purchasing an additional 7,043 shares during the period. 96.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on ARE shares. Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Royal Bank of Canada lowered their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, August 5th. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average price target of $133.22.
Alexandria Real Estate Equities Stock Up 2.0 %
NYSE ARE traded up $2.40 during mid-day trading on Monday, hitting $120.00. The company’s stock had a trading volume of 1,162,120 shares, compared to its average volume of 957,360. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The company’s 50 day simple moving average is $118.00 and its 200 day simple moving average is $119.02. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 109.91, a PEG ratio of 3.99 and a beta of 1.16.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $766.70 million for the quarter, compared to the consensus estimate of $775.03 million. During the same quarter last year, the business posted $2.24 earnings per share. Alexandria Real Estate Equities’s revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.
Alexandria Real Estate Equities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.
Alexandria Real Estate Equities Company 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 our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.