Federated Hermes Inc. Grows Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Federated Hermes Inc. increased its stake in Alexandria Real Estate Equities by 31.6% in the first quarter, owning a total of 915,024 shares valued at approximately $84.6 million.
• The company announced a quarterly dividend of $1.32 per share, yielding 6.64%, and has a dividend payout ratio of -4,061.54%.
• Alexandria Real Estate Equities recently reported an EPS of $2.33, surpassing analysts' expectations, although revenue decreased by 0.6% year-over-year.

Federated Hermes Inc. raised its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 31.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 915,024 shares of the real estate investment trust's stock after purchasing an additional 219,887 shares during the quarter. Federated Hermes Inc. owned 0.53% of Alexandria Real Estate Equities worth $84,649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Alexandria Real Estate Equities by 40.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,029 shares of the real estate investment trust's stock valued at $1,076,000 after buying an additional 3,176 shares during the period. Korea Investment CORP grew its stake in Alexandria Real Estate Equities by 66.9% in the fourth quarter. Korea Investment CORP now owns 85,855 shares of the real estate investment trust's stock worth $8,375,000 after purchasing an additional 34,424 shares during the period. Allianz SE purchased a new stake in Alexandria Real Estate Equities in the fourth quarter worth $174,000. Arrowstreet Capital Limited Partnership grew its stake in Alexandria Real Estate Equities by 42.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 419,015 shares of the real estate investment trust's stock worth $40,875,000 after purchasing an additional 125,370 shares during the period. Finally, Wellington Management Group LLP grew its stake in Alexandria Real Estate Equities by 33.9% in the fourth quarter. Wellington Management Group LLP now owns 36,713 shares of the real estate investment trust's stock worth $3,581,000 after purchasing an additional 9,295 shares during the period. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Stock Performance

ARE stock traded down $0.42 during trading on Friday, reaching $76.01. The stock had a trading volume of 1,745,347 shares, compared to its average volume of 1,622,395. Alexandria Real Estate Equities, Inc. has a 52 week low of $67.37 and a 52 week high of $125.63. The stock's 50 day moving average is $74.85 and its two-hundred day moving average is $83.82. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.61. The firm has a market cap of $13.15 billion, a PE ratio of -584.69, a PEG ratio of 6.44 and a beta of 1.24.

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 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.04. The business had revenue of $737.28 million during the quarter, compared to analysts' expectations of $748.02 million. Alexandria Real Estate Equities had a negative return on equity of 0.05% and a negative net margin of 0.33%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.36 earnings per share. As a group, equities analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given 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 6.9%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is currently -4,061.54%.

Analyst Ratings Changes

ARE has been the topic of several recent research reports. JPMorgan Chase & Co. reduced 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 reduced their price target on Alexandria Real Estate Equities from $129.00 to $102.00 in a research note on Thursday, June 12th. Wedbush cut their target price on Alexandria Real Estate Equities from $104.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Citigroup cut their target price on Alexandria Real Estate Equities from $110.00 to $74.00 in a research note on Monday, June 2nd. Finally, Mizuho cut their target price on Alexandria Real Estate Equities from $121.00 to $91.00 in a research note on Thursday, June 12th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $97.17.

Alexandria Real Estate Equities 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.