DAVENPORT & Co LLC Purchases 791,712 Shares of Alexandria Real Estate Equities, Inc. $ARE

Key Points

• DAVENPORT & Co LLC increased its stake in Alexandria Real Estate Equities, purchasing 791,712 shares, bringing its total ownership to approximately 0.48%, worth $60.8 million.
• The company announced a quarterly dividend of $1.32, providing a yield of 6.3% based on an annualized payout.
• Alexandria Real Estate Equities reported a quarterly earnings per share (EPS) of $2.33, which exceeded the consensus estimate of $2.29, although revenue was down 0.6% compared to the same quarter last year.

DAVENPORT & Co LLC grew its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 1,796.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 835,789 shares of the real estate investment trust's stock after purchasing an additional 791,712 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.48% of Alexandria Real Estate Equities worth $60,814,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Alexandria Real Estate Equities by 511.9% in the 1st quarter. AQR Capital Management LLC now owns 1,517,842 shares of the real estate investment trust's stock valued at $140,416,000 after purchasing an additional 1,269,795 shares in the last quarter. Invesco Ltd. grew its stake in shares of Alexandria Real Estate Equities by 39.0% during the first quarter. Invesco Ltd. now owns 3,147,743 shares of the real estate investment trust's stock valued at $291,198,000 after buying an additional 882,963 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alexandria Real Estate Equities by 79.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,233,606 shares of the real estate investment trust's stock worth $114,122,000 after buying an additional 544,358 shares during the period. Strs Ohio bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $41,457,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Alexandria Real Estate Equities by 21.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,849,582 shares of the real estate investment trust's stock valued at $171,105,000 after acquiring an additional 330,673 shares during the period. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Trading Up 0.2%

NYSE ARE opened at $83.83 on Monday. The stock's 50 day moving average is $80.98 and its 200 day moving average is $78.25. 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 firm has a market capitalization of $14.50 billion, a PE ratio of -644.85, a P/E/G ratio of 7.04 and a beta of 1.31. Alexandria Real Estate Equities, Inc. has a twelve month low of $67.37 and a twelve month high of $123.10.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $737.28 million during the quarter, compared to analyst estimates of $748.02 million. During the same period last year, the business earned $2.36 EPS. Alexandria Real Estate Equities's quarterly revenue was down .6% compared to the same quarter last year. Alexandria Real Estate Equities has set its FY 2025 guidance at 9.160-9.360 EPS. Research analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Alexandria Real Estate Equities's payout ratio is -4,061.54%.

Wall Street Analysts Forecast Growth

ARE has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Alexandria Real Estate Equities in a research report on Saturday, September 27th. Evercore ISI raised shares of Alexandria Real Estate Equities from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $91.00 to $104.00 in a research note on Monday, September 15th. BMO Capital Markets started coverage on shares of Alexandria Real Estate Equities in a research report on Tuesday, September 23rd. They set an "outperform" rating and a $100.00 price target for the company. Baird R W cut their price target on shares of Alexandria Real Estate Equities from $129.00 to $102.00 in a report on Thursday, June 12th. Finally, Cantor Fitzgerald set a $88.00 target price on shares of Alexandria Real Estate Equities and gave the stock a "neutral" rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of "Hold" and a consensus target price of $96.60.

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.

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