Mirae Asset Global Investments Co. Ltd. Sells 5,164 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 17.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,133 shares of the real estate investment trust's stock after selling 5,164 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Alexandria Real Estate Equities were worth $2,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $1,605,426,000. JPMorgan Chase & Co. increased its holdings in Alexandria Real Estate Equities by 212.9% in the 4th quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust's stock worth $806,337,000 after acquiring an additional 5,624,163 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alexandria Real Estate Equities by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,135,591 shares of the real estate investment trust's stock worth $402,450,000 after acquiring an additional 96,771 shares in the last quarter. Capital World Investors purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $326,959,000. Finally, Northern Trust Corp increased its holdings in Alexandria Real Estate Equities by 67.9% in the 4th quarter. Northern Trust Corp now owns 2,565,406 shares of the real estate investment trust's stock worth $250,255,000 after acquiring an additional 1,037,413 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARE shares. Wedbush reduced their target price on shares of Alexandria Real Estate Equities from $104.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Baird R W reduced their target price on shares of Alexandria Real Estate Equities from $129.00 to $102.00 in a report on Thursday, June 12th. Wall Street Zen upgraded Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. JMP Securities restated a "market outperform" rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $99.54.

Alexandria Real Estate Equities Price Performance

Shares of ARE stock traded up $0.69 on Friday, reaching $76.96. The company's stock had a trading volume of 904,443 shares, compared to its average volume of 1,378,446. The stock's fifty day simple moving average is $72.30 and its 200-day simple moving average is $86.39. Alexandria Real Estate Equities, Inc. has a 1 year low of $67.37 and a 1 year high of $130.14. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 101.26, a price-to-earnings-growth ratio of 6.48 and a beta of 1.25.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.02. Alexandria Real Estate Equities had a net margin of 4.62% and a return on equity of 0.64%. The firm had revenue of $758.16 million during the quarter, compared to analyst estimates of $755.64 million. During the same period last year, the firm posted $2.35 earnings per share. Alexandria Real Estate Equities's revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date of this dividend is Monday, June 30th. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently 694.74%.

About Alexandria Real Estate Equities

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.