Renaissance Technologies LLC reduced its stake in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 51.7% during the second quarter, HoldingsChannel reports. The firm owned 252,200 shares of the real estate investment trust’s stock after selling 269,600 shares during the period. Renaissance Technologies LLC’s holdings in Alexandria Real Estate Equities were worth $31,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC raised its stake in shares of Alexandria Real Estate Equities by 142.3% during the second quarter. Advisors Preferred LLC now owns 860 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 505 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of Alexandria Real Estate Equities by 12,889.6% during the first quarter. Summit Trail Advisors LLC now owns 124,051 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 123,096 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at about $177,000. Advisor Partners LLC bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at about $205,000. Finally, Private Advisor Group LLC bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at about $206,000. Institutional investors and hedge funds own 98.98% of the company’s stock.

A number of research firms recently issued reports on ARE. Citigroup lifted their target price on Alexandria Real Estate Equities from $127.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, August 8th. Barclays lifted their target price on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, July 17th. Finally, JPMorgan Chase & Co. lifted their target price on Alexandria Real Estate Equities from $130.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, May 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.93.

In related news, insider Joel S. Marcus sold 29,500 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $126.87, for a total value of $3,742,665.00. Following the transaction, the insider now owns 582,255 shares of the company’s stock, valued at approximately $73,870,691.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lawrence J. Diamond sold 250 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $126.99, for a total value of $31,747.50. Following the completion of the transaction, the chief operating officer now directly owns 60,217 shares in the company, valued at approximately $7,646,956.83. The disclosure for this sale can be found here. Insiders sold a total of 76,250 shares of company stock worth $9,731,103 in the last three months. 1.41% of the stock is currently owned by company insiders.

NYSE:ARE opened at $126.60 on Wednesday. The stock has a market cap of $13.43 billion, a P/E ratio of 21.03, a PEG ratio of 3.14 and a beta of 0.71. Alexandria Real Estate Equities Inc has a 52-week low of $114.00 and a 52-week high of $134.37. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.81.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.64 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.64. The firm had revenue of $325.00 million for the quarter, compared to analysts’ expectations of $331.27 million. Alexandria Real Estate Equities had a return on equity of 4.36% and a net margin of 22.86%. Alexandria Real Estate Equities’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. sell-side analysts anticipate that Alexandria Real Estate Equities Inc will post 6.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.72 dividend on an annualized basis and a yield of 2.94%. Alexandria Real Estate Equities’s dividend payout ratio is currently 61.79%.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.

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Institutional Ownership by Quarter for Alexandria Real Estate Equities (NYSE:ARE)

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