Vanguard Group Inc. Raises Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Vanguard Group Inc. increased its stake in Alexandria Real Estate Equities by 0.2%, owning over 26 million shares worth approximately $2.41 billion.
• Analysts have recently decreased price targets for Alexandria Real Estate Equities, with the average target now at $97.17, while the stock has a consensus rating of "Hold."
• The company reported earnings per share of $2.33, slightly exceeding estimates, despite a revenue decrease of 0.6% year-over-year.

Vanguard Group Inc. increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,067,548 shares of the real estate investment trust's stock after purchasing an additional 46,465 shares during the quarter. Vanguard Group Inc. owned 15.07% of Alexandria Real Estate Equities worth $2,411,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARE. Wellington Management Group LLP boosted its holdings in Alexandria Real Estate Equities by 33.9% in the fourth quarter. Wellington Management Group LLP now owns 36,713 shares of the real estate investment trust's stock worth $3,581,000 after purchasing an additional 9,295 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Alexandria Real Estate Equities by 25.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 526,960 shares of the real estate investment trust's stock worth $51,405,000 after acquiring an additional 106,002 shares during the period. Wedbush Securities Inc. raised its position in Alexandria Real Estate Equities by 5.8% in the fourth quarter. Wedbush Securities Inc. now owns 2,300 shares of the real estate investment trust's stock worth $224,000 after acquiring an additional 126 shares during the period. Bank of Montreal Can raised its position in Alexandria Real Estate Equities by 6.1% in the fourth quarter. Bank of Montreal Can now owns 383,558 shares of the real estate investment trust's stock worth $37,416,000 after acquiring an additional 22,146 shares during the period. Finally, APG Asset Management N.V. bought a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $8,168,000. Hedge funds and other institutional investors own 96.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARE shares. JPMorgan Chase & Co. decreased their price target on shares of Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Evercore ISI decreased their price target on shares of Alexandria Real Estate Equities from $103.00 to $91.00 in a research report on Wednesday, April 30th. Jefferies Financial Group decreased their price target on shares of Alexandria Real Estate Equities from $100.00 to $82.00 in a research report on Friday, April 11th. Mizuho decreased their price target 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 decreased their price target on shares of Alexandria Real Estate Equities from $100.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $97.17.

Alexandria Real Estate Equities Stock Down 0.5%

Shares of ARE stock opened at $74.20 on Friday. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of -570.78, a PEG ratio of 6.28 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. The company's fifty day moving average price is $75.42 and its 200-day moving average price is $82.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.04. The company had revenue of $737.28 million during the quarter, compared to analysts' expectations 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%. Alexandria Real Estate Equities's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.36 earnings per share. Sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Monday, June 30th. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently -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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