California Public Employees Retirement System cut its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 22.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 253,929 shares of the real estate investment trust’s stock after selling 73,894 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Alexandria Real Estate Equities worth $11,787,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BOKF NA increased its holdings in shares of Alexandria Real Estate Equities by 6,033.3% in the 3rd quarter. BOKF NA now owns 368 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 362 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $30,000. CIBC Private Wealth Group LLC raised its holdings in shares of Alexandria Real Estate Equities by 109.6% during the third quarter. CIBC Private Wealth Group LLC now owns 436 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Alexandria Real Estate Equities during the second quarter valued at approximately $33,000. Finally, Quarry LP bought a new position in Alexandria Real Estate Equities during the third quarter valued at approximately $62,000. Institutional investors own 96.54% of the company’s stock.
Alexandria Real Estate Equities Price Performance
Shares of NYSE:ARE opened at $50.98 on Friday. The company has a market capitalization of $8.88 billion, a P/E ratio of -8.13, a P/E/G ratio of 6.11 and a beta of 1.17. Alexandria Real Estate Equities, Inc. has a 1-year low of $39.41 and a 1-year high of $88.24. The firm’s 50 day simple moving average is $50.51 and its two-hundred day simple moving average is $50.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.20 and a quick ratio of 0.20.
Alexandria Real Estate Equities Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, June 30th. Alexandria Real Estate Equities’s dividend payout ratio is presently -45.93%.
Insiders Place Their Bets
In related news, EVP Gregory Calvin Thomas purchased 3,500 shares of Alexandria Real Estate Equities stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $41.00 per share, for a total transaction of $143,500.00. Following the acquisition, the executive vice president owned 33,024 shares in the company, valued at approximately $1,353,984. The trade was a 11.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joel S. Marcus purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $42.72 per share, for a total transaction of $320,400.00. Following the purchase, the chairman owned 587,724 shares in the company, valued at approximately $25,107,569.28. This represents a 1.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.35% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on ARE shares. Mizuho lowered their price target on Alexandria Real Estate Equities from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research report on Friday, July 17th. Wall Street Zen upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group reduced their price target on shares of Alexandria Real Estate Equities from $57.00 to $47.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Finally, Zacks Research cut shares of Alexandria Real Estate Equities from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Reduce” and a consensus target price of $51.08.
Check Out Our Latest Analysis on Alexandria Real Estate Equities
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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