DAVENPORT & Co LLC Increases Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

DAVENPORT & Co LLC lifted its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,077 shares of the real estate investment trust's stock after acquiring an additional 5,296 shares during the quarter. DAVENPORT & Co LLC's holdings in Alexandria Real Estate Equities were worth $4,078,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ARE. Norges Bank purchased a new stake in Alexandria Real Estate Equities during the fourth quarter valued at about $1,605,426,000. JPMorgan Chase & Co. raised its stake in Alexandria Real Estate Equities by 212.9% in the fourth 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 raised its stake in Alexandria Real Estate Equities by 2.4% in the fourth 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 in the last quarter. Capital World Investors purchased a new stake in Alexandria Real Estate Equities in the fourth quarter valued at approximately $326,959,000. Finally, Northern Trust Corp raised 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 valued at $250,255,000 after purchasing an additional 1,037,413 shares in the last quarter. Institutional investors own 96.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARE. Baird R W lowered their target price on shares of Alexandria Real Estate Equities from $129.00 to $102.00 in a research note on Thursday, June 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $130.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, April 30th. Jefferies Financial Group lowered their target price on shares of Alexandria Real Estate Equities from $100.00 to $82.00 in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of "Hold" and an average price target of $99.54.

Alexandria Real Estate Equities Trading Down 2.5%

Shares of Alexandria Real Estate Equities stock traded down $1.89 on Monday, hitting $75.03. The stock had a trading volume of 2,172,551 shares, compared to its average volume of 1,381,622. 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, Inc. has a one year low of $67.37 and a one year high of $130.14. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 98.72, a PEG ratio of 6.48 and a beta of 1.25. The stock's 50-day simple moving average is $72.26 and its two-hundred day simple moving average is $86.15.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $758.16 million for the quarter, compared to analysts' expectations of $755.64 million. During the same quarter last year, the business earned $2.35 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date is Monday, June 30th. Alexandria Real Estate Equities's payout ratio is 694.74%.

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.