Ethic Inc. Raises Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Ethic Inc. raised its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 24.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,307 shares of the real estate investment trust’s stock after acquiring an additional 1,255 shares during the quarter. Ethic Inc.’s holdings in Alexandria Real Estate Equities were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Alexandria Real Estate Equities during the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter worth about $30,000. Deseret Mutual Benefit Administrators bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter worth about $37,000. Tobam purchased a new position in shares of Alexandria Real Estate Equities during the 1st quarter worth about $36,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Alexandria Real Estate Equities during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 88.85% of the company’s stock.

ARE opened at $199.45 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $30.39 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 3.45 and a beta of 0.73. Alexandria Real Estate Equities, Inc. has a 52-week low of $150.08 and a 52-week high of $209.76. The firm’s fifty day simple moving average is $201.20 and its two-hundred day simple moving average is $184.51.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Sunday, July 25th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $1.98. Alexandria Real Estate Equities had a net margin of 45.83% and a return on equity of 6.46%. During the same quarter in the prior year, the business earned $1.82 EPS. On average, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 7.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, September 29th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 61.37%.

ARE has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Alexandria Real Estate Equities to $20.00 and gave the company a “market perform” rating in a research report on Monday, July 26th. Mizuho reiterated a “buy” rating and set a $200.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, July 14th. Royal Bank of Canada upped their price target on shares of Alexandria Real Estate Equities from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, August 17th. Finally, JMP Securities upped their price target on shares of Alexandria Real Estate Equities from $200.00 to $210.00 and gave the company a “market outperform” rating in a research note on Monday, July 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $171.71.

In related news, CIO Daniel J. Ryan sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $206.90, for a total transaction of $2,069,000.00. Following the completion of the sale, the executive now directly owns 122,405 shares in the company, valued at $25,325,594.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Joel S. Marcus sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $200.02, for a total transaction of $1,000,100.00. Following the sale, the chairman now owns 329,597 shares of the company’s stock, valued at $65,925,991.94. The disclosure for this sale can be found here. Insiders sold 95,538 shares of company stock valued at $19,454,703 over the last quarter. Company insiders own 1.12% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is an urban office real estate investment trust. It engages in the ownership, operation, development, and redevelopment of life science and technology properties. The firm also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations.

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

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