Alexandria Real Estate Equities, Inc. $ARE Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Position

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 51.6% in the third quarter, Holdings Channel reports. The institutional investor owned 58,734 shares of the real estate investment trust’s stock after buying an additional 20,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Alexandria Real Estate Equities were worth $2,788,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Parcion Private Wealth LLC purchased a new position in Alexandria Real Estate Equities during the third quarter worth about $485,000. Soltis Investment Advisors LLC bought a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at about $240,000. D.A. Davidson & CO. boosted its position in shares of Alexandria Real Estate Equities by 29.7% during the 3rd quarter. D.A. Davidson & CO. now owns 8,132 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 1,861 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Alexandria Real Estate Equities by 2.4% during the third quarter. Asset Management One Co. Ltd. now owns 229,257 shares of the real estate investment trust’s stock worth $10,881,000 after purchasing an additional 5,428 shares in the last quarter. Finally, Abundance Wealth Counselors grew its holdings in shares of Alexandria Real Estate Equities by 17.1% during the third quarter. Abundance Wealth Counselors now owns 41,662 shares of the real estate investment trust’s stock worth $1,977,000 after purchasing an additional 6,079 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of Alexandria Real Estate Equities from $52.00 to $48.00 and set a “market perform” rating on the stock in a report on Monday, September 28th. Citizens Jmp reaffirmed a “market perform” rating on shares of Alexandria Real Estate Equities in a report on Monday, August 17th. Mizuho cut their target price on shares of Alexandria Real Estate Equities from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada set a $41.00 target price on Alexandria Real Estate Equities in a research note on Monday, October 12th. Finally, Evercore reissued an “outperform” rating and issued a $59.00 target price on shares of Alexandria Real Estate Equities in a research note on Monday, September 21st. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $49.36.

Alexandria Real Estate Equities Trading Up 5.9%

Shares of ARE opened at $42.59 on Tuesday. The stock has a market capitalization of $7.42 billion, a P/E ratio of 5.57 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a twelve month low of $38.34 and a twelve month high of $59.76. The company has a quick ratio of 0.19, a current ratio of 0.14 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $47.88 and a two-hundred day simple moving average of $49.64.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($3.71). The business had revenue of $671.18 million for the quarter, compared to analysts’ expectations 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%. Alexandria Real Estate Equities’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.22 earnings per share. On average, research 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 disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.72 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 6.8%. Alexandria Real Estate Equities’s dividend payout ratio is -34.20%.

Insiders Place Their Bets

In other news, CAO Andres Gavinet sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $50.93, for a total value of $509,300.00. Following the transaction, the chief accounting officer owned 102,516 shares in the company, valued at approximately $5,221,139.88. This represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Joel Marcus acquired 5,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average cost of $49.68 per share, for a total transaction of $248,400.00. Following the completion of the transaction, the chairman directly owned 597,724 shares in the company, valued at $29,694,928.32. This represents a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.35% of the stock is owned by corporate insiders.

Alexandria Real Estate Equities 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.