Resona Asset Management Co. Ltd. Has $8.75 Million Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Alexandria Real Estate Equities by 6.4%, now holding approximately 92,254 shares valued at about $8.74 million.
• Shares of Alexandria Real Estate Equities rose 2.2% to $76.12 during trading, with a twelve-month trading range of $67.37 to $125.63.
• The company announced a quarterly dividend of $1.32 per share, representing a dividend yield of 6.9%, despite a negative payout ratio of -4,061.54%.

Resona Asset Management Co. Ltd. grew its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,254 shares of the real estate investment trust's stock after buying an additional 5,533 shares during the quarter. Resona Asset Management Co. Ltd. owned approximately 0.05% of Alexandria Real Estate Equities worth $8,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its position in Alexandria Real Estate Equities by 514.3% during the 4th quarter. Colonial Trust Co SC now owns 301 shares of the real estate investment trust's stock worth $29,000 after buying an additional 252 shares in the last quarter. Tsfg LLC bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $30,000. Avalon Trust Co bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $32,000. TruNorth Capital Management LLC bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at about $34,000. Finally, Cromwell Holdings LLC bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at about $36,000. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE traded up $1.61 during trading hours on Friday, hitting $76.12. 1,891,556 shares of the stock were exchanged, compared to its average volume of 1,726,794. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $13.17 billion, a PE ratio of -585.54, a price-to-earnings-growth ratio of 6.40 and a beta of 1.24. The company's fifty day simple moving average is $75.83 and its two-hundred day simple moving average is $81.94. Alexandria Real Estate Equities, Inc. has a 1-year low of $67.37 and a 1-year high of $125.63.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.04. Alexandria Real Estate Equities had a negative net margin of 0.33% and a negative return on equity of 0.05%. The firm had revenue of $737.28 million for the quarter, compared to analyst estimates of $748.02 million. During the same quarter last year, the business posted $2.36 earnings per share. The company's quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $1.32 dividend. The ex-dividend date was Monday, June 30th. This represents a $5.28 dividend on an annualized basis and a yield of 6.9%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is currently -4,061.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ARE shares. BNP Paribas Exane decreased their target price on shares of Alexandria Real Estate Equities from $111.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their target price 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. Evercore ISI decreased their target price on shares of Alexandria Real Estate Equities from $103.00 to $91.00 in a research report on Wednesday, April 30th. Citigroup decreased their target price on shares of Alexandria Real Estate Equities from $110.00 to $74.00 in a research report on Monday, June 2nd. Finally, JMP Securities restated a "market outperform" rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Alexandria Real Estate Equities presently has an average rating of "Hold" and a consensus price target of $97.17.

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.