Border to Coast Pensions Partnership Ltd Sells 85,000 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Border to Coast Pensions Partnership Ltd decreased its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 29.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the real estate investment trust's stock after selling 85,000 shares during the period. Border to Coast Pensions Partnership Ltd owned approximately 0.12% of Alexandria Real Estate Equities worth $18,502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Alexandria Real Estate Equities during the fourth quarter valued at approximately $1,605,426,000. JPMorgan Chase & Co. boosted its stake in shares of Alexandria Real Estate Equities by 212.9% in the 4th quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust's stock valued at $806,337,000 after purchasing an additional 5,624,163 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alexandria Real Estate Equities by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,135,591 shares of the real estate investment trust's stock valued at $402,450,000 after purchasing an additional 96,771 shares during the last quarter. Capital World Investors purchased a new position in Alexandria Real Estate Equities in the 4th quarter worth $326,959,000. Finally, Northern Trust Corp lifted its stake in Alexandria Real Estate Equities by 67.9% in the fourth quarter. Northern Trust Corp now owns 2,565,406 shares of the real estate investment trust's stock worth $250,255,000 after purchasing an additional 1,037,413 shares during the last quarter. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Price Performance

Shares of Alexandria Real Estate Equities stock opened at $74.22 on Friday. The business has a 50 day moving average of $72.49 and a 200 day moving average of $87.62. Alexandria Real Estate Equities, Inc. has a 52 week low of $67.37 and a 52 week high of $130.14. The company has a market cap of $12.84 billion, a PE ratio of 97.66, a P/E/G ratio of 6.20 and a beta of 1.25. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.02. Alexandria Real Estate Equities had a net margin of 4.62% and a return on equity of 0.64%. The business had revenue of $758.16 million for the quarter, compared to the consensus estimate of $755.64 million. During the same period in the previous year, the firm earned $2.35 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research 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. Stockholders of record on Monday, June 30th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Monday, June 30th. Alexandria Real Estate Equities's dividend payout ratio is currently 694.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARE. JPMorgan Chase & Co. reduced their price objective on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 20th. JMP Securities restated a "market outperform" rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. Wall Street Zen upgraded Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group started 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 for the company. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities has an average rating of "Hold" and an average target price of $116.00.

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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