Sonora Investment Management Group LLC Purchases Shares of 29,496 Alexandria Real Estate Equities, Inc. $ARE

Key Points

• Sonora Investment Management Group LLC has acquired 29,496 shares of Alexandria Real Estate Equities, valued at approximately $2.14 million.
• Equity analysts have recently adjusted price targets for Alexandria Real Estate Equities, with estimates ranging from $74.00 to $102.00 post adjustments, reflecting a consensus "Hold" rating.
• Alexandria Real Estate Equities announced a quarterly dividend of $1.32 per share, representing an annualized yield of 6.3% for shareholders.

Sonora Investment Management Group LLC acquired a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,496 shares of the real estate investment trust's stock, valued at approximately $2,142,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Alexandria Real Estate Equities by 511.9% during the first quarter. AQR Capital Management LLC now owns 1,517,842 shares of the real estate investment trust's stock worth $140,416,000 after purchasing an additional 1,269,795 shares during the period. Invesco Ltd. raised its stake in Alexandria Real Estate Equities by 39.0% during the first quarter. Invesco Ltd. now owns 3,147,743 shares of the real estate investment trust's stock worth $291,198,000 after purchasing an additional 882,963 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alexandria Real Estate Equities by 79.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,233,606 shares of the real estate investment trust's stock worth $114,122,000 after purchasing an additional 544,358 shares during the period. Strs Ohio purchased a new position in Alexandria Real Estate Equities during the first quarter worth approximately $41,457,000. Finally, Goldman Sachs Group Inc. raised its stake in Alexandria Real Estate Equities by 21.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,849,582 shares of the real estate investment trust's stock worth $171,105,000 after purchasing an additional 330,673 shares during the period. Hedge funds and other institutional investors own 96.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Baird R W cut their price target on shares of Alexandria Real Estate Equities from $129.00 to $102.00 in a research note on Thursday, June 12th. Citigroup dropped their price objective on shares of Alexandria Real Estate Equities from $110.00 to $74.00 in a research report on Monday, June 2nd. BMO Capital Markets started coverage on shares of Alexandria Real Estate Equities in a research report on Tuesday, September 23rd. They issued an "outperform" rating and a $100.00 price objective for the company. Mizuho dropped their price objective on shares of Alexandria Real Estate Equities from $121.00 to $91.00 in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada dropped their price objective on shares of Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $98.38.

Alexandria Real Estate Equities Trading Down 0.5%

Shares of NYSE:ARE opened at $83.78 on Friday. The company has a market cap of $14.49 billion, a PE ratio of -644.46, a P/E/G ratio of 7.04 and a beta of 1.30. The company's 50-day moving average price is $80.74 and its 200 day moving average price is $78.88. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $67.37 and a fifty-two week high of $123.76. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $2.33 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $748.02 million. During the same period in the previous year, the firm earned $2.36 EPS. Alexandria Real Estate Equities's revenue was down .6% on a year-over-year basis. 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 year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Alexandria Real Estate Equities's dividend payout ratio (DPR) is -4,061.54%.

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.

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