Shares of Alexandria Real Estate Equities Inc. (NYSE:ARE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $109.99 and last traded at $109.71, with a volume of 423,493 shares trading hands. The stock had previously closed at $109.29.

Several brokerages have issued reports on ARE. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Tuesday, May 10th. Citigroup Inc. cut their price objective on Alexandria Real Estate Equities from $106.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. TheStreet upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Monday, April 18th. Mizuho upped their price objective on Alexandria Real Estate Equities from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, July 8th. Finally, Robert W. Baird restated a “hold” rating on shares of Alexandria Real Estate Equities in a research note on Monday, May 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $103.29.

The stock has a 50-day moving average price of $102.26 and a 200 day moving average price of $90.80. The firm has a market capitalization of $8.14 billion and a price-to-earnings ratio of 83.40.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. During the same period in the prior year, the business posted $1.28 earnings per share. The business earned $216.08 million during the quarter, compared to analyst estimates of $211.66 million. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alexandria Real Estate Equities Inc. will post $5.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, June 28th.

In related news, Director Daniel J. Ryan sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $95.31, for a total transaction of $476,550.00. Following the sale, the director now directly owns 71,200 shares of the company’s stock, valued at $6,786,072. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CIO Peter M. Moglia sold 4,000 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $96.90, for a total value of $387,600.00. Following the sale, the executive now directly owns 68,867 shares in the company, valued at $6,673,212.30. The disclosure for this sale can be found here.

Other large investors have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in Alexandria Real Estate Equities by 0.7% in the fourth quarter. KBC Group NV now owns 17,835 shares of the real estate investment trust’s stock worth $1,612,000 after buying an additional 130 shares during the period. State of Tennessee Treasury Department increased its stake in Alexandria Real Estate Equities by 52.8% in the fourth quarter. State of Tennessee Treasury Department now owns 57,900 shares of the real estate investment trust’s stock worth $5,232,000 after buying an additional 20,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Alexandria Real Estate Equities by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 911,653 shares of the real estate investment trust’s stock worth $82,379,000 after buying an additional 11,268 shares during the period. Stephens Inc. AR increased its stake in Alexandria Real Estate Equities by 13.4% in the fourth quarter. Stephens Inc. AR now owns 33,704 shares of the real estate investment trust’s stock worth $3,045,000 after buying an additional 3,986 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Alexandria Real Estate Equities by 10.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 147,500 shares of the real estate investment trust’s stock worth $13,328,000 after buying an additional 14,000 shares during the period.

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing office/laboratory and technology office space for lease to the science and technology industries. It is focused on collaborative science and technology campuses. It develops urban cluster campuses and ecosystems.

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