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 grew its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 54.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,361 shares of the real estate investment trust's stock after buying 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.

A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors purchased a new position in Alexandria Real Estate Equities during the 4th quarter valued at about $326,959,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alexandria Real Estate Equities by 1,038.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,610,074 shares of the real estate investment trust's stock valued at $157,063,000 after purchasing an additional 1,468,644 shares in the last quarter. Northern Trust Corp grew its position in shares of 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 during the last quarter. Bank of America Corp DE increased its stake in shares of Alexandria Real Estate Equities by 218.1% during the 4th quarter. Bank of America Corp DE now owns 1,164,554 shares of the real estate investment trust's stock worth $113,602,000 after purchasing an additional 798,438 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Alexandria Real Estate Equities during the 4th quarter worth approximately $34,170,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARE. BNP Paribas Exane lowered their target price on Alexandria Real Estate Equities from $111.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Mizuho decreased their price objective on Alexandria Real Estate Equities from $121.00 to $91.00 in a research note on Thursday, June 12th. Jefferies Financial Group dropped their price objective on Alexandria Real Estate Equities from $100.00 to $82.00 in a research report on Friday, April 11th. Evercore ISI reduced their target price on shares of Alexandria Real Estate Equities from $103.00 to $91.00 in a report on Wednesday, April 30th. Finally, Wedbush reduced their price objective on shares of 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. Ten equities research 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 $97.17.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock traded up $0.04 during trading on Friday, reaching $74.60. The company had a trading volume of 375,747 shares, compared to its average volume of 1,608,041. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23. The firm's 50 day simple moving average is $75.34 and its two-hundred day simple moving average is $83.13. The company has a market capitalization of $12.90 billion, a PE ratio of -574.04, a PEG ratio of 6.22 and a beta of 1.24. Alexandria Real Estate Equities, Inc. has a one year low of $67.37 and a one year high of $125.63.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.04. The firm had revenue of $737.28 million during the quarter, compared to analyst estimates of $748.02 million. Alexandria Real Estate Equities had a negative net margin of 0.33% and a negative return on equity of 0.05%. The business's revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. Sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Monday, June 30th. Alexandria Real Estate Equities's dividend payout ratio is currently -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.