Alexandria Real Estate Equities, Inc. (NYSE:ARE) Stake Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Alexandria Real Estate Equities, raising its ownership by 11.5%, resulting in a total of 378,712 shares.
• Alexandria Real Estate Equities has a market cap of $12.83 billion, with shares trading at around $74.20, down from a 12-month high of $125.63.
• The company reported an earnings per share (EPS) of $2.33 for the last quarter, exceeding estimates, but experienced a 0.6% decrease in revenue year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,712 shares of the real estate investment trust's stock after purchasing an additional 39,013 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Alexandria Real Estate Equities worth $35,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Alexandria Real Estate Equities by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,530,184 shares of the real estate investment trust's stock worth $234,067,000 after acquiring an additional 63,997 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter worth about $1,261,000. American Assets Investment Management LLC bought a new stake in Alexandria Real Estate Equities during the 1st quarter worth approximately $569,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Alexandria Real Estate Equities by 32.1% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,735 shares of the real estate investment trust's stock worth $1,456,000 after acquiring an additional 3,821 shares during the last quarter. Finally, Avalon Trust Co bought a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at approximately $32,000. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Price Performance

Shares of ARE opened at $74.20 on Friday. Alexandria Real Estate Equities, Inc. has a 12-month low of $67.37 and a 12-month high of $125.63. The stock has a market cap of $12.83 billion, a P/E ratio of -570.78, a P/E/G ratio of 6.25 and a beta of 1.24. The business's fifty day moving average is $75.42 and its 200 day moving average is $82.81. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61.

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

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Monday, June 30th. Alexandria Real Estate Equities's payout ratio is currently -4,061.54%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARE. Citigroup reduced their target price on Alexandria Real Estate Equities from $110.00 to $74.00 in a report on Monday, June 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Royal Bank Of Canada lowered their price objective on Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Mizuho decreased their target price on shares of Alexandria Real Estate Equities from $121.00 to $91.00 in a report on Thursday, June 12th. Finally, Wedbush decreased their price target on Alexandria Real Estate Equities from $104.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Alexandria Real Estate Equities currently 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.

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