CCLA Investment Management Sells 45,309 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• CCLA Investment Management has reduced its stake in Alexandria Real Estate Equities by 5.4%, now holding 796,126 shares valued at approximately $73.67 million.
• Alexandria Real Estate Equities reported $2.33 earnings per share for the most recent quarter, slightly exceeding analysts' estimates.
• The company announced a quarterly dividend of $1.32 per share, yielding 6.9%, despite a significant negative payout ratio.

CCLA Investment Management reduced its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 796,126 shares of the real estate investment trust's stock after selling 45,309 shares during the period. CCLA Investment Management owned approximately 0.46% of Alexandria Real Estate Equities worth $73,665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC increased 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 valued at $29,000 after purchasing an additional 252 shares during the period. Tsfg LLC purchased a new stake in Alexandria Real Estate Equities in the first quarter worth $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Alexandria Real Estate Equities in the first quarter worth $34,000. Cromwell Holdings LLC purchased a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at $36,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth about $50,000. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARE has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their target price on Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. 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 note on Tuesday, May 20th. Baird R W lowered their target price on Alexandria Real Estate Equities from $129.00 to $102.00 in a research note on Thursday, June 12th. Jefferies Financial Group lowered their price target on Alexandria Real Estate Equities from $100.00 to $82.00 in a research report on Friday, April 11th. Finally, BNP Paribas Exane reduced their target price on Alexandria Real Estate Equities from $111.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities has an average rating of "Hold" and a consensus target price of $97.17.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock traded up $0.38 during mid-day trading on Tuesday, hitting $77.50. The company's stock had a trading volume of 158,357 shares, compared to its average volume of 1,597,959. Alexandria Real Estate Equities, Inc. has a twelve month low of $67.37 and a twelve month high of $125.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $13.40 billion, a P/E ratio of -596.19, a P/E/G ratio of 6.40 and a beta of 1.24. The stock's fifty day moving average price is $75.03 and its two-hundred day moving average price is $83.43.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share 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 period in the prior year, the firm earned $2.36 earnings per share. Research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $1.32 per share. The ex-dividend date was Monday, June 30th. This represents a $5.28 annualized dividend and a dividend yield of 6.8%. Alexandria Real Estate Equities's dividend payout ratio is currently -4,061.54%.

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.