41,480 Shares in Alexandria Real Estate Equities, Inc. $ARE Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a stake in Alexandria Real Estate Equities, buying 41,480 shares valued at approximately $1.97 million in the third quarter. Institutional investors collectively own 96.54% of the REIT.
• Alexandria reported quarterly revenue of $671.2 million, above analysts’ estimates, but revenue fell 10.7% year over year and reported EPS missed consensus estimates. The company’s annualized dividend is $2.88 per share, a 6.4% yield.
• Analyst sentiment is cautious: the stock has a consensus “Reduce” rating and an average price target of $49.79. Shares opened at $44.77 and have traded between $38.34 and $59.76 over the past year.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 41,480 shares of the real estate investment trust's stock, valued at approximately $1,969,000.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in Alexandria Real Estate Equities by 2.4% in the third quarter. ProShare Advisors LLC now owns 30,791 shares of the real estate investment trust's stock worth $1,461,000 after buying an additional 712 shares during the period. Vise Technologies Inc. bought a new stake in Alexandria Real Estate Equities in the third quarter valued at $397,000. Americana Partners LLC acquired a new position in shares of Alexandria Real Estate Equities during the third quarter valued at $1,385,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Alexandria Real Estate Equities by 51.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 58,734 shares of the real estate investment trust's stock valued at $2,788,000 after acquiring an additional 20,000 shares during the period. Finally, Parcion Private Wealth LLC acquired a new position in shares of Alexandria Real Estate Equities during the third quarter valued at $485,000. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $44.77 on Friday. The firm has a market capitalization of $7.80 billion, a PE ratio of -5.32 and a beta of 1.17. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $47.20 and a 200 day moving average price of $49.38. Alexandria Real Estate Equities, Inc. has a 52-week low of $38.34 and a 52-week high of $59.76.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($3.71). The firm had revenue of $671.18 million during the quarter, compared to the consensus estimate of $646.26 million. Alexandria Real Estate Equities had a negative return on equity of 7.52% and a negative net margin of 51.81%. The firm's quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 EPS. On average, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 6.39 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Alexandria Real Estate Equities's payout ratio is presently -34.20%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARE. Evercore restated an "outperform" rating and set a $59.00 price target on shares of Alexandria Real Estate Equities in a research report on Monday, September 21st. BNP Paribas Exane cut their price objective on shares of Alexandria Real Estate Equities from $40.00 to $37.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 28th. The Goldman Sachs Group lifted their price objective on shares of Alexandria Real Estate Equities from $54.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, September 18th. Citigroup reduced their target price on shares of Alexandria Real Estate Equities from $50.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from a "neutral" rating to an "underweight" rating and set a $56.00 target price for the company. in a research report on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of "Reduce" and a consensus price target of $49.79.

Insider Buying and Selling

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus purchased 5,000 shares of the company's stock in a transaction on Friday, September 11th. The shares were purchased at an average cost of $49.68 per share, for a total transaction of $248,400.00. Following the completion of the transaction, the chairman owned 597,724 shares in the company, valued at $29,694,928.32. The trade was a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.51, for a total transaction of $849,073.10. Following the completion of the sale, the executive vice president directly owned 39,152 shares of the company's stock, valued at $1,977,567.52. The trade was a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.35% of the stock is owned by corporate insiders.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment trust specializing in life science, technology and other knowledge-based industries. Founded in 1994, the company develops, owns and operates collaborative campuses that bring together companies, researchers and institutions.

Its properties include laboratory, office and manufacturing space, as well as related facilities and amenities designed to support research and innovation. Alexandria also makes strategic investments in companies in the life science and technology sectors through its venture investment platform.

The company serves major U.S.

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