Mackenzie Financial Corp Purchases 5,424 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Mackenzie Financial Corp increased its stake in Alexandria Real Estate Equities by 54.6% during the 1st quarter, owning 15,361 shares valued at approximately $1.42 million.
• Alexandria Real Estate Equities reported earnings of $2.33 per share for the latest quarter, surpassing analysts' expectations despite a revenue decline of 0.6% compared to the previous year.
• The company recently declared a quarterly dividend of $1.32 per share, which translates to an annual yield of 6.8%.

Mackenzie Financial Corp increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 54.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,361 shares of the real estate investment trust's stock after purchasing an additional 5,424 shares during the quarter. Mackenzie Financial Corp's holdings in Alexandria Real Estate Equities were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ARE. Colonial Trust Co SC lifted its holdings 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 purchasing an additional 252 shares during the period. Tsfg LLC acquired a new stake in Alexandria Real Estate Equities in the 1st quarter valued at about $30,000. TruNorth Capital Management LLC acquired a new stake in Alexandria Real Estate Equities in the 1st quarter valued at about $34,000. Cromwell Holdings LLC acquired a new stake in Alexandria Real Estate Equities in the 1st quarter valued at about $36,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 96.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ARE shares. JPMorgan Chase & Co. cut their price objective on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, May 20th. Wedbush cut their price objective on Alexandria Real Estate Equities from $104.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Baird R W cut their price objective on Alexandria Real Estate Equities from $129.00 to $102.00 in a report on Thursday, June 12th. JMP Securities restated a "market outperform" rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their price objective on Alexandria Real Estate Equities from $100.00 to $82.00 in a report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $97.17.

Alexandria Real Estate Equities Stock Performance

Shares of ARE traded up $1.07 during mid-day trading on Tuesday, hitting $78.19. The company's stock had a trading volume of 1,013,395 shares, compared to its average volume of 1,666,190. Alexandria Real Estate Equities, Inc. has a one year low of $67.37 and a one year high of $125.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $13.52 billion, a PE ratio of -601.46, a price-to-earnings-growth ratio of 6.49 and a beta of 1.24. The stock's 50-day moving average is $75.03 and its two-hundred day moving average is $83.43.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.04. Alexandria Real Estate Equities had a negative return on equity of 0.05% and a negative net margin of 0.33%. The company had revenue of $737.28 million during the quarter, compared to analysts' expectations of $748.02 million. During the same period in the prior year, the business earned $2.36 earnings per share. Alexandria Real Estate Equities's revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Monday, June 30th. Alexandria Real Estate Equities's dividend payout ratio (DPR) is -4,061.54%.

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.