Arrowstreet Capital Limited Partnership acquired a new stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 788,845 shares of the real estate investment trust's stock, valued at approximately $36,618,000. Arrowstreet Capital Limited Partnership owned 0.45% of Alexandria Real Estate Equities as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alexandria Real Estate Equities by 102.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,245 shares of the real estate investment trust's stock valued at $2,184,000 after acquiring an additional 11,762 shares in the last quarter. NewEdge Advisors LLC lifted its position in Alexandria Real Estate Equities by 4,261.1% during the first quarter. NewEdge Advisors LLC now owns 3,140 shares of the real estate investment trust's stock worth $290,000 after purchasing an additional 3,068 shares during the period. Empowered Funds LLC grew its stake in Alexandria Real Estate Equities by 4.8% during the first quarter. Empowered Funds LLC now owns 6,455 shares of the real estate investment trust's stock worth $597,000 after buying an additional 296 shares in the last quarter. Woodline Partners LP grew its stake in Alexandria Real Estate Equities by 39.9% during the first quarter. Woodline Partners LP now owns 13,015 shares of the real estate investment trust's stock worth $1,204,000 after buying an additional 3,714 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in Alexandria Real Estate Equities by 171.5% in the 1st quarter. Focus Partners Wealth now owns 6,591 shares of the real estate investment trust's stock valued at $610,000 after buying an additional 4,163 shares during the period. Institutional investors and hedge funds own 96.54% of the company's stock.
Analyst Ratings Changes
ARE has been the subject of several analyst reports. Evercore boosted their target price on shares of Alexandria Real Estate Equities from $58.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Zacks Research cut shares of Alexandria Real Estate Equities from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Royal Bank Of Canada lowered their price objective on shares of Alexandria Real Estate Equities from $60.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 5th. Mizuho cut their target price on Alexandria Real Estate Equities from $70.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, July 6th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Alexandria Real Estate Equities in a report on Monday. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $51.08.
Read Our Latest Research Report on ARE
Insider Activity
In other news, CFO Marc E. Binda sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $54.00, for a total value of $108,000.00. Following the completion of the transaction, the chief financial officer owned 188,264 shares of the company's stock, valued at $10,166,256. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Joel S. Marcus purchased 7,500 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $42.72 per share, with a total value of $320,400.00. Following the purchase, the chairman directly owned 587,724 shares of the company's stock, valued at approximately $25,107,569.28. The trade was a 1.29% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.35% of the stock is currently owned by insiders.
Alexandria Real Estate Equities Stock Performance
NYSE ARE opened at $54.02 on Wednesday. The firm's fifty day moving average price is $50.77 and its two-hundred day moving average price is $50.39. The stock has a market cap of $9.41 billion, a PE ratio of -8.62, a PEG ratio of 6.26 and a beta of 1.17. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $88.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.20 and a current ratio of 0.20.
Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.73. The company had revenue of $671.02 million during the quarter, compared to the consensus estimate of $684.78 million. Alexandria Real Estate Equities had a negative net margin of 36.03% and a negative return on equity of 5.21%. The company's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 earnings per share. On average, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 6.36 EPS for the current fiscal year.
Alexandria Real Estate Equities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. Alexandria Real Estate Equities's payout ratio is -45.93%.
About Alexandria Real Estate Equities
(
Free Report)
Alexandria Real Estate Equities, Inc NYSE: ARE is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company's properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.
Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.
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