Zions Bancorporation National Association UT Purchases Shares of 55,378 Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Key Points

• Zions Bancorporation has acquired a new position in Alexandria Real Estate Equities, purchasing 55,378 shares valued at approximately $5,123,000.
• Multiple large investors, including Bank of America Corp DE, have significantly increased their holdings in Alexandria Real Estate Equities, indicating strong institutional interest in the stock.
• Wall Street analysts have adjusted their price targets for Alexandria Real Estate Equities, with recent reductions bringing the average target price down to $97.17.

Zions Bancorporation National Association UT purchased a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 55,378 shares of the real estate investment trust's stock, valued at approximately $5,123,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC lifted its holdings in Alexandria Real Estate Equities by 514.3% in the 4th quarter. Colonial Trust Co SC now owns 301 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 252 shares during the last quarter. Tsfg LLC acquired a new position in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $30,000. Avalon Trust Co acquired a new position in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $32,000. TruNorth Capital Management LLC bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at approximately $34,000. Finally, Cromwell Holdings LLC bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at approximately $36,000. Institutional investors own 96.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on ARE shares. Mizuho lowered their price objective on Alexandria Real Estate Equities from $121.00 to $91.00 in a research report on Thursday, June 12th. JPMorgan Chase & Co. dropped their target price on 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. Royal Bank Of Canada dropped their target price on 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. JMP Securities reaffirmed a "market outperform" rating and set a $130.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. Finally, Citigroup decreased their target price on Alexandria Real Estate Equities from $110.00 to $74.00 in a report on Monday, June 2nd. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $97.17.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE traded down $2.30 during midday trading on Monday, hitting $71.91. 1,927,855 shares of the stock traded hands, compared to its average volume of 1,721,373. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $12.44 billion, a P/E ratio of -553.14, a PEG ratio of 6.25 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 firm has a 50-day moving average of $75.42 and a two-hundred day moving average of $82.69.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $2.33 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 business had revenue of $737.28 million during the quarter, compared to the consensus estimate of $748.02 million. During the same quarter in the prior year, the firm earned $2.36 EPS. The business's revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 7.3%. Alexandria Real Estate Equities's payout ratio is -4,061.54%.

Alexandria Real Estate Equities 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.