Weiss Asset Management LP Buys New Shares in Alexandria Real Estate Equities, Inc. $ARE

Key Points

• Weiss Asset Management acquired 79,100 shares of Alexandria Real Estate Equities in the first quarter, valued at approximately $3.67 million. Institutional investors collectively own 96.54% of ARE.
• Analyst sentiment remains cautious: ARE has a consensus rating of “Reduce” and an average price target of $51.08, while ratings range from “outperform” to “strong sell.”
• ARE shares recently traded near $50.98 and offer a quarterly dividend of $0.72, equivalent to an annualized $2.88 payout and a 5.6% yield. First-quarter revenue fell 11.5% year over year, although earnings per share matched analyst expectations at $1.73.

Weiss Asset Management LP acquired a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 79,100 shares of the real estate investment trust's stock, valued at approximately $3,672,000.

Several other hedge funds have also made changes to their positions in ARE. BOKF NA increased its stake in Alexandria Real Estate Equities by 6,033.3% during the third quarter. BOKF NA now owns 368 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 362 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at $30,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Alexandria Real Estate Equities by 109.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 436 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 228 shares during the period. MUFG Securities EMEA plc bought a new stake in Alexandria Real Estate Equities in the second quarter valued at about $33,000. Finally, Quarry LP acquired a new position in Alexandria Real Estate Equities in the third quarter worth about $62,000. Institutional investors own 96.54% of the company's stock.

Analyst Ratings Changes

ARE has been the topic of several analyst reports. Evercore upped their price objective on Alexandria Real Estate Equities from $58.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Citigroup reiterated an "outperform" rating on shares of Alexandria Real Estate Equities in a research report on Monday, May 4th. Robert W. Baird reiterated a "neutral" rating and set a $46.00 price objective (down from $67.00) on shares of Alexandria Real Estate Equities in a research note on Monday, May 4th. Zacks Research cut Alexandria Real Estate Equities from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada cut their price objective on Alexandria Real Estate Equities from $60.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $51.08.

Insider Activity

In other news, Chairman Joel S. Marcus purchased 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $42.72 per share, for a total transaction of $320,400.00. Following the completion of the acquisition, the chairman directly owned 587,724 shares in the company, valued at approximately $25,107,569.28. The trade was a 1.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marc E. Binda sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $54.00, for a total transaction of $108,000.00. Following the sale, the chief financial officer owned 188,264 shares of the company's stock, valued at approximately $10,166,256. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.35% of the stock is owned by insiders.

Alexandria Real Estate Equities Price Performance

Shares of ARE stock opened at $50.98 on Monday. Alexandria Real Estate Equities, Inc. has a 52 week low of $39.41 and a 52 week high of $88.24. The stock has a market capitalization of $8.88 billion, a PE ratio of -8.13, a PEG ratio of 6.21 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. The stock's fifty day moving average is $50.51 and its 200-day moving average is $50.39.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.73. The business had revenue of $671.02 million during the quarter, compared to analysts' expectations of $684.78 million. Alexandria Real Estate Equities had a negative return on equity of 5.21% and a negative net margin of 36.03%.The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.30 earnings per share. Equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 6.36 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Alexandria Real Estate Equities's dividend payout ratio is -45.93%.

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.

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