Agate Pass Investment Management LLC Takes $375,000 Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Agate Pass Investment Management LLC acquired a new stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,050 shares of the real estate investment trust's stock, valued at approximately $375,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Alexandria Real Estate Equities by 174.8% in the first quarter. Versant Capital Management Inc now owns 2,047 shares of the real estate investment trust's stock worth $189,000 after purchasing an additional 1,302 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in shares of Alexandria Real Estate Equities in the first quarter worth about $259,000. Wellington Management Group LLP increased its stake in shares of Alexandria Real Estate Equities by 33.9% during the fourth quarter. Wellington Management Group LLP now owns 36,713 shares of the real estate investment trust's stock worth $3,581,000 after purchasing an additional 9,295 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Alexandria Real Estate Equities by 146.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,236 shares of the real estate investment trust's stock valued at $1,096,000 after acquiring an additional 6,686 shares in the last quarter. Finally, Copley Financial Group Inc. grew its stake in Alexandria Real Estate Equities by 21.3% during the 4th quarter. Copley Financial Group Inc. now owns 4,293 shares of the real estate investment trust's stock valued at $419,000 after acquiring an additional 753 shares in the last quarter. 96.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a report on Monday, March 17th. They issued a "hold" rating and a $100.00 price target for the company. Finally, Wall Street Zen upgraded shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $116.00.

Alexandria Real Estate Equities Stock Up 1.1%

Shares of NYSE:ARE traded up $0.76 during midday trading on Tuesday, reaching $70.36. 539,889 shares of the company were exchanged, compared to its average volume of 1,293,884. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $67.37 and a fifty-two week high of $130.14. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $76.40 and a two-hundred day simple moving average of $91.81. The firm has a market cap of $12.17 billion, a PE ratio of 39.09, a P/E/G ratio of 3.93 and a beta of 1.27.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.02. The business had revenue of $758.16 million for the quarter, compared to the consensus estimate of $755.64 million. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 earnings per share. As a group, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 7.50%. Alexandria Real Estate Equities's payout ratio is 694.74%.

About Alexandria Real Estate Equities

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.