Corient Private Wealth LP acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor acquired 32,625 shares of the real estate investment trust’s stock, valued at approximately $1,724,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Alexandria Real Estate Equities during the second quarter valued at approximately $1,146,423,000. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities in the 4th quarter worth approximately $805,429,000. Invesco Ltd. grew its stake in shares of Alexandria Real Estate Equities by 57.9% in the 4th quarter. Invesco Ltd. now owns 6,033,304 shares of the real estate investment trust’s stock worth $295,270,000 after buying an additional 2,211,424 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alexandria Real Estate Equities by 1,022.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,813,955 shares of the real estate investment trust’s stock valued at $151,175,000 after buying an additional 1,652,298 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Alexandria Real Estate Equities during the 2nd quarter valued at approximately $79,253,000. Institutional investors own 96.54% of the company’s stock.
Alexandria Real Estate Equities Trading Down 0.1%
Alexandria Real Estate Equities stock opened at $52.69 on Friday. Alexandria Real Estate Equities, Inc. has a one year low of $39.41 and a one year high of $88.24. The business’s fifty day moving average is $50.77 and its 200 day moving average is $49.47. The stock has a market capitalization of $9.18 billion, a PE ratio of -8.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.19 and a quick ratio of 0.19.
Alexandria Real Estate Equities Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Alexandria Real Estate Equities’s payout ratio is presently -47.52%.
Insider Activity
In other Alexandria Real Estate Equities news, CFO Marc E. Binda sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred 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 sale, the chief financial officer owned 188,264 shares of the company’s stock, valued at approximately $10,166,256. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Joel Marcus bought 5,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $46.28 per share, with a total value of $231,400.00. Following the completion of the purchase, the chairman owned 592,724 shares in the company, valued at approximately $27,431,266.72. The trade was a 0.85% increase in their position. The SEC filing for this purchase provides additional information. 1.35% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have commented on ARE. Mizuho dropped their target price 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. Wall Street Zen downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. BNP Paribas Exane lifted their price target on Alexandria Real Estate Equities from $45.00 to $48.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Alexandria Real Estate Equities in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $52.85.
View Our Latest Stock Report on ARE
Alexandria Real Estate Equities Profile
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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