Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 118.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,837 shares of the real estate investment trust's stock after buying an additional 3,712 shares during the quarter. Procyon Advisors LLC's holdings in Alexandria Real Estate Equities were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ARE. Spire Wealth Management boosted its stake in Alexandria Real Estate Equities by 72.5% during the 4th quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust's stock valued at $58,000 after acquiring an additional 250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alexandria Real Estate Equities by 9.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,297 shares of the real estate investment trust's stock valued at $2,973,000 after purchasing an additional 2,568 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in shares of Alexandria Real Estate Equities by 18.7% during the fourth quarter. Consolidated Portfolio Review Corp now owns 4,290 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 677 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Alexandria Real Estate Equities by 5.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust's stock worth $88,140,000 after purchasing an additional 42,825 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Alexandria Real Estate Equities by 4.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,006 shares of the real estate investment trust's stock worth $5,073,000 after purchasing an additional 2,006 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARE. Jefferies Financial Group began coverage on Alexandria Real Estate Equities in a research note on Monday, March 17th. They set a "hold" rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on 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 objective on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $116.00.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $70.57 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market capitalization of $12.21 billion, a PE ratio of 39.21, a P/E/G ratio of 3.93 and a beta of 1.25. Alexandria Real Estate Equities, Inc. has a 1-year low of $67.37 and a 1-year high of $130.14. The business's fifty day moving average price is $74.52 and its two-hundred day moving average price is $90.94.

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

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.32 per share. The ex-dividend date is Monday, June 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 7.48%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently 694.74%.

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.

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