Illinois Municipal Retirement Fund Increases Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Illinois Municipal Retirement Fund lifted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 118.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,265 shares of the real estate investment trust's stock after acquiring an additional 15,299 shares during the period. Illinois Municipal Retirement Fund's holdings in Alexandria Real Estate Equities were worth $2,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARE. EverSource Wealth Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities by 57.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 109 shares during the last quarter. Colonial Trust Co SC lifted its position in Alexandria Real Estate Equities by 514.3% in the fourth quarter. Colonial Trust Co SC now owns 301 shares of the real estate investment trust's stock worth $29,000 after buying an additional 252 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in Alexandria Real Estate Equities in the fourth quarter worth $50,000. True Wealth Design LLC boosted its stake in Alexandria Real Estate Equities by 663.5% during the fourth quarter. True Wealth Design LLC now owns 649 shares of the real estate investment trust's stock worth $63,000 after buying an additional 564 shares during the period. Finally, Sherman Asset Management Inc. bought a new position in Alexandria Real Estate Equities during the fourth quarter valued at $75,000. Hedge funds and other institutional investors own 96.54% of the company's stock.

Analyst Upgrades and Downgrades

ARE has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Alexandria Real Estate Equities in a report on Monday, March 17th. They issued a "hold" rating and a $100.00 target price for the company. JMP Securities reissued a "market outperform" rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of "Hold" and a consensus target price of $116.00.

Alexandria Real Estate Equities Trading Down 1.2%

Shares of NYSE ARE opened at $73.29 on Monday. Alexandria Real Estate Equities, Inc. has a twelve month low of $67.37 and a twelve month high of $130.14. The firm has a market cap of $12.68 billion, a PE ratio of 96.43, a price-to-earnings-growth ratio of 6.18 and a beta of 1.25. The business has a fifty day simple moving average of $72.40 and a two-hundred day simple moving average of $87.18. 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 (NYSE:ARE - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $2.30 EPS for the quarter, beating the consensus estimate of $2.28 by $0.02. Alexandria Real Estate Equities had a return on equity of 0.64% and a net margin of 4.62%. The firm had revenue of $758.16 million for the quarter, compared to analyst estimates of $755.64 million. During the same quarter last year, the firm posted $2.35 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.32 per share. The ex-dividend date is Monday, June 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 7.20%. Alexandria Real Estate Equities's dividend payout ratio is presently 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.

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