NorthCrest Asset Manangement LLC Makes New Investment in Alexandria Real Estate Equities, Inc. $ARE

Key Points

• NorthCrest Asset Management LLC has invested $231,000 in Alexandria Real Estate Equities, purchasing 3,002 shares during the second quarter.
• Alexandria Real Estate Equities reported earnings of $2.33 per share for the last quarter, slightly exceeding analysts' expectations, but revenue fell short of estimates.
• The company announced a quarterly dividend of $1.32 per share, with an annualized yield of 6.1%, highlighting its commitment to providing returns to shareholders.

NorthCrest Asset Manangement LLC bought a new stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,002 shares of the real estate investment trust's stock, valued at approximately $231,000.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Alexandria Real Estate Equities by 39.0% in the 1st quarter. Invesco Ltd. now owns 3,147,743 shares of the real estate investment trust's stock valued at $291,198,000 after purchasing an additional 882,963 shares during the last quarter. Northern Trust Corp lifted its stake in Alexandria Real Estate Equities by 6.2% in the first quarter. Northern Trust Corp now owns 2,723,583 shares of the real estate investment trust's stock valued at $251,959,000 after buying an additional 158,177 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Alexandria Real Estate Equities by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,530,184 shares of the real estate investment trust's stock worth $234,067,000 after acquiring an additional 63,997 shares during the period. Goldman Sachs Group Inc. increased its stake in Alexandria Real Estate Equities by 21.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,849,582 shares of the real estate investment trust's stock valued at $171,105,000 after buying an additional 330,673 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alexandria Real Estate Equities by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,646,542 shares of the real estate investment trust's stock valued at $152,322,000 after buying an additional 36,468 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARE has been the topic of a number of recent research reports. Baird R W lowered their target price on Alexandria Real Estate Equities from $129.00 to $102.00 in a research note on Thursday, June 12th. Royal Bank Of Canada lowered their target price on Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Evercore ISI upgraded shares of Alexandria Real Estate Equities from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $91.00 to $104.00 in a report on Monday, September 15th. Citigroup cut their price objective on shares of Alexandria Real Estate Equities from $110.00 to $74.00 in a research report on Monday, June 2nd. Finally, Mizuho decreased their target price on Alexandria Real Estate Equities from $121.00 to $91.00 in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of "Hold" and an average price target of $98.25.

Alexandria Real Estate Equities Stock Down 0.2%

NYSE ARE traded down $0.19 on Monday, reaching $86.00. The company had a trading volume of 1,171,769 shares, compared to its average volume of 1,252,068. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $14.87 billion, a P/E ratio of -661.54, a P/E/G ratio of 7.24 and a beta of 1.30. The company's fifty day moving average is $80.03 and its 200 day moving average is $79.26. Alexandria Real Estate Equities, Inc. has a 52-week low of $67.37 and a 52-week high of $125.60.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.04. Alexandria Real Estate Equities had a negative net margin of 0.33% and a negative return on equity of 0.05%. The company had revenue of $737.28 million for the quarter, compared to analyst estimates of $748.02 million. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. Alexandria Real Estate Equities has set its FY 2025 guidance at 9.160-9.360 EPS. Sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.32 per share. The ex-dividend date is Tuesday, September 30th. This represents a $5.28 annualized dividend and a dividend yield of 6.1%. Alexandria Real Estate Equities's 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.