Janney Montgomery Scott LLC acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,313 shares of the real estate investment trust’s stock, valued at approximately $2,568,000.
Several other hedge funds also recently bought and sold shares of ARE. UBS Asset Management Americas Inc. raised its stake in Alexandria Real Estate Equities by 20.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 269,804 shares of the real estate investment trust’s stock worth $29,984,000 after buying an additional 45,855 shares in the last quarter. Teachers Advisors LLC raised its stake in Alexandria Real Estate Equities by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 261,372 shares of the real estate investment trust’s stock worth $29,046,000 after buying an additional 18,020 shares in the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in Alexandria Real Estate Equities during the first quarter worth $8,556,000. Manning & Napier Advisors LLC raised its stake in Alexandria Real Estate Equities by 13.5% in the first quarter. Manning & Napier Advisors LLC now owns 94,960 shares of the real estate investment trust’s stock worth $10,494,000 after buying an additional 11,280 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX bought a new stake in Alexandria Real Estate Equities during the first quarter worth $2,181,000.
Alexandria Real Estate Equities, Inc. (NYSE ARE) opened at 120.61 on Friday. The firm has a market cap of $11.29 billion, a P/E ratio of 272.26 and a beta of 0.86. Alexandria Real Estate Equities, Inc. has a 52 week low of $101.51 and a 52 week high of $123.89. The company’s 50 day moving average is $119.97 and its 200-day moving average is $115.75.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.50. Alexandria Real Estate Equities had a net margin of 9.45% and a return on equity of 3.11%. The firm had revenue of $273.10 million for the quarter, compared to the consensus estimate of $277.40 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Equities analysts expect that Alexandria Real Estate Equities, Inc. will post $1.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.86 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, June 28th. This represents a $3.44 annualized dividend and a yield of 2.85%. Alexandria Real Estate Equities’s payout ratio is 860.02%.
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ARE has been the topic of a number of recent research reports. Barclays PLC upped their price objective on Alexandria Real Estate Equities from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. TheStreet raised Alexandria Real Estate Equities from a “c” rating to a “b-” rating in a research report on Monday, May 1st. BidaskClub raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Alexandria Real Estate Equities presently has a consensus rating of “Buy” and a consensus target price of $122.71.
In related news, COO Stephen Richardson sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $117.51, for a total transaction of $881,325.00. Following the sale, the chief operating officer now owns 108,472 shares of the company’s stock, valued at approximately $12,746,544.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Richardson sold 4,000 shares of Alexandria Real Estate Equities stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $117.89, for a total transaction of $471,560.00. Following the sale, the director now directly owns 61,000 shares in the company, valued at approximately $7,191,290. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock worth $2,303,665 in the last ninety days. 1.60% of the stock is currently owned by insiders.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.
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