Hohimer Wealth Management LLC Acquires 24,949 Shares of Alexandria Real Estate Equities, Inc. $ARE

Key Points

• Hohimer Wealth Management opened a position in Alexandria Real Estate Equities, buying 24,949 shares in the third quarter, valued at approximately $1.18 million.
• Analyst views were mostly cautious: the stock had an average “Reduce” rating and an average price target of $49.79, with 10 Hold and four Sell ratings among the analysts cited.
• Alexandria reported quarterly EPS of -$3.74, missing estimates of -$0.03, while revenue of $671.18 million exceeded estimates but fell 10.7% year over year.

Hohimer Wealth Management LLC bought a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 24,949 shares of the real estate investment trust's stock, valued at approximately $1,184,000.

A number of other institutional investors also recently modified their holdings of ARE. Handelsbanken Fonder AB boosted its position in shares of Alexandria Real Estate Equities by 58.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 68,500 shares of the real estate investment trust's stock worth $3,620,000 after purchasing an additional 25,300 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $1,155,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $2,047,000. Hsbc Holdings PLC increased its position in Alexandria Real Estate Equities by 15.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,208,572 shares of the real estate investment trust's stock valued at $64,485,000 after buying an additional 159,552 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at about $2,392,000. Institutional investors and hedge funds own 96.54% of the company's stock.

Insider Buying and Selling

In other Alexandria Real Estate Equities news, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of Alexandria Real Estate Equities stock in a transaction on Friday, September 11th. The shares were sold at an average price of $50.51, for a total transaction of $849,073.10. Following the transaction, the executive vice president directly owned 39,152 shares of the company's stock, valued at $1,977,567.52. The trade was a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andres Gavinet sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction on Monday, August 31st. The stock was sold at an average price of $50.93, for a total transaction of $509,300.00. Following the transaction, the chief accounting officer directly owned 102,516 shares in the company, valued at $5,221,139.88. This represents a 8.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ARE shares. Jefferies Financial Group dropped their price target on Alexandria Real Estate Equities from $47.00 to $46.00 and set a "hold" rating on the stock in a research note on Thursday, September 24th. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from a "neutral" rating to an "underweight" rating and set a $56.00 price objective for the company. in a research note on Thursday, September 24th. Weiss Ratings restated a "sell (d)" rating on shares of Alexandria Real Estate Equities in a report on Thursday, October 15th. Robert W. Baird upped their target price on Alexandria Real Estate Equities from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, August 24th. Finally, BNP Paribas Exane lowered their target price on Alexandria Real Estate Equities from $40.00 to $37.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $49.79.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $45.86 on Tuesday. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $38.34 and a fifty-two week high of $59.76. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of -5.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.14 and a current ratio of 0.14. The firm's 50-day simple moving average is $47.09 and its 200 day simple moving average is $49.32.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($3.71). The company had revenue of $671.18 million for the quarter, compared to the consensus estimate of $646.26 million. Alexandria Real Estate Equities had a negative return on equity of 7.52% and a negative net margin of 51.81%. The business's revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 earnings per share. As a group, research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 6.39 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 annualized dividend and a yield of 6.3%. Alexandria Real Estate Equities's dividend payout ratio is -34.20%.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment trust specializing in life science, technology and other knowledge-based industries. Founded in 1994, the company develops, owns and operates collaborative campuses that bring together companies, researchers and institutions.

Its properties include laboratory, office and manufacturing space, as well as related facilities and amenities designed to support research and innovation. Alexandria also makes strategic investments in companies in the life science and technology sectors through its venture investment platform.

The company serves major U.S.

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