Sumitomo Mitsui Trust Group Inc. decreased its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 67.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,371 shares of the real estate investment trust’s stock after selling 339,979 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Alexandria Real Estate Equities were worth $7,659,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Alexandria Real Estate Equities during the third quarter worth $1,969,000. ProShare Advisors LLC increased its stake in Alexandria Real Estate Equities by 2.4% during the third quarter. ProShare Advisors LLC now owns 30,791 shares of the real estate investment trust’s stock valued at $1,461,000 after purchasing an additional 712 shares during the last quarter. Vise Technologies Inc. bought a new stake in Alexandria Real Estate Equities during the third quarter valued at $397,000. Americana Partners LLC acquired a new stake in shares of Alexandria Real Estate Equities during the third quarter worth $1,385,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Alexandria Real Estate Equities by 51.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 58,734 shares of the real estate investment trust’s stock worth $2,788,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.
Analysts Set New Price Targets
ARE has been the topic of a number of recent research reports. BNP Paribas Exane reduced their price target on shares of Alexandria Real Estate Equities from $40.00 to $37.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 28th. Jefferies Financial Group dropped their price objective on shares of Alexandria Real Estate Equities from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alexandria Real Estate Equities in a report on Thursday, October 15th. Citigroup dropped their price target on Alexandria Real Estate Equities from $50.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 price target on the stock. in a report on Thursday, September 24th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $49.79.
Check Out Our Latest Stock Report on ARE
Alexandria Real Estate Equities Stock Performance
Shares of Alexandria Real Estate Equities stock traded down $0.40 during trading on Friday, hitting $44.77. 1,879,160 shares of the stock were exchanged, compared to its average volume of 2,686,579. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.14 and a current ratio of 0.14. Alexandria Real Estate Equities, Inc. has a 12 month low of $38.34 and a 12 month high of $59.76. The stock’s fifty day moving average is $47.20 and its 200 day moving average is $49.38. The stock has a market cap of $7.80 billion, a PE ratio of -5.32 and a beta of 1.17.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($3.71). The firm had revenue of $671.18 million during the quarter, compared to the consensus estimate of $646.26 million. Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 earnings per share. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 6.39 EPS for the current year.
Alexandria Real Estate Equities Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.72 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 6.4%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently -34.20%.
Insider Activity
In other news, CAO Andres Gavinet sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $50.93, for a total transaction of $509,300.00. Following the sale, the chief accounting officer owned 102,516 shares of the company’s stock, valued at approximately $5,221,139.88. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Joel S. Marcus acquired 5,000 shares of Alexandria Real Estate Equities stock in a transaction dated Friday, September 11th. The shares were acquired at an average price of $49.68 per share, with a total value of $248,400.00. Following the completion of the transaction, the chairman owned 597,724 shares of the company’s stock, valued at approximately $29,694,928.32. This trade represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.35% of the company’s stock.
Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.
The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.
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