Sumitomo Mitsui Trust Group Inc. Has $46.02 Million Holdings in Alexandria Real Estate Equities, Inc. $ARE

Key Points

• Sumitomo Mitsui Trust Group Inc. cut its stake in Alexandria Real Estate Equities by 30% in the first quarter, leaving it with 991,351 shares worth about $46.0 million.
• The REIT reported quarterly EPS of $1.73, matching analyst expectations, but revenue came in below estimates at $671.0 million and was down 11.5% year over year.
• Alexandria Real Estate Equities announced a quarterly dividend of $0.72 per share, implying a 6.0% yield; meanwhile, analysts currently rate the stock a consensus “Hold” with a $51.08 price target.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 30.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 991,351 shares of the real estate investment trust's stock after selling 424,525 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.57% of Alexandria Real Estate Equities worth $46,019,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Gradient Investments LLC grew its holdings in Alexandria Real Estate Equities by 1,453.9% during the fourth quarter. Gradient Investments LLC now owns 257,838 shares of the real estate investment trust's stock valued at $12,619,000 after purchasing an additional 241,245 shares during the last quarter. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth $805,429,000. Monaco Asset Management SAM acquired a new position in Alexandria Real Estate Equities in the 4th quarter valued at $6,582,000. Davis Selected Advisers grew its stake in Alexandria Real Estate Equities by 15.3% in the 3rd quarter. Davis Selected Advisers now owns 180,157 shares of the real estate investment trust's stock valued at $15,014,000 after buying an additional 23,970 shares during the last quarter. Finally, Thompson Investment Management Inc. raised its holdings in Alexandria Real Estate Equities by 53.0% in the 4th quarter. Thompson Investment Management Inc. now owns 172,094 shares of the real estate investment trust's stock worth $8,422,000 after acquiring an additional 59,613 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Down 0.0%

Shares of ARE opened at $47.88 on Monday. The company has a 50-day simple moving average of $49.66 and a 200-day simple moving average of $50.34. The firm has a market capitalization of $8.34 billion, a P/E ratio of -7.64, a P/E/G ratio of 5.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.20 and a current ratio of 0.20. Alexandria Real Estate Equities, Inc. has a 52 week low of $39.41 and a 52 week high of $88.24.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $1.73 earnings per share for the quarter, hitting analysts' consensus estimates of $1.73. Alexandria Real Estate Equities had a negative return on equity of 5.21% and a negative net margin of 36.03%.The business had revenue of $671.02 million for the quarter, compared to the consensus estimate of $684.78 million. During the same period last year, the business earned $2.30 earnings per share. The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. Alexandria Real Estate Equities has set its FY 2026 guidance at 6.300-6.500 EPS. On average, equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 6.37 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently -45.93%.

Insider Transactions at Alexandria Real Estate Equities

In other news, Chairman Joel S. Marcus acquired 7,500 shares of the stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $42.72 per share, for a total transaction of $320,400.00. Following the completion of the transaction, the chairman owned 587,724 shares in the company, valued at approximately $25,107,569.28. This trade represents a 1.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marc E. Binda sold 2,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $54.00, for a total value of $108,000.00. Following the completion of the transaction, the chief financial officer owned 188,264 shares of the company's stock, valued at $10,166,256. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARE shares. The Goldman Sachs Group reissued a "neutral" rating and set a $52.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, May 19th. Mizuho dropped their price objective on Alexandria Real Estate Equities from $70.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. Evercore boosted their price objective on Alexandria Real Estate Equities from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Morgan Stanley restated an "underweight" rating and set a $53.00 target price on shares of Alexandria Real Estate Equities in a research note on Thursday, June 11th. Finally, Cantor Fitzgerald cut their price target on Alexandria Real Estate Equities from $60.00 to $43.00 and set a "neutral" rating for the company in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of "Hold" and a consensus target price of $51.08.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc NYSE: ARE is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company's properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.

Want to see what other hedge funds are holding ARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.