Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) EVP Marc E. Binda sold 3,298 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $167.21, for a total transaction of $551,458.58. Following the completion of the sale, the executive vice president now directly owns 67,005 shares in the company, valued at $11,203,906.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Alexandria Real Estate Equities Stock Down 0.4 %
Shares of Alexandria Real Estate Equities stock opened at $165.09 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.35 and a current ratio of 0.35. Alexandria Real Estate Equities, Inc. has a 52-week low of $126.74 and a 52-week high of $206.85. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 52.74, a P/E/G ratio of 2.42 and a beta of 0.94. The company’s 50-day moving average price is $152.89 and its 200-day moving average price is $150.96.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its earnings results on Tuesday, January 31st. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($1.82). Alexandria Real Estate Equities has a return on equity of 2.80% and a net margin of 20.15%. The firm had revenue of $670.28 million during the quarter, compared to the consensus estimate of $674.21 million. During the same quarter in the prior year, the business posted $1.97 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities research analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.94 EPS for the current year.
Alexandria Real Estate Equities Increases Dividends
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were issued a $1.21 dividend. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $4.84 annualized dividend and a dividend yield of 2.93%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 154.63%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ARE. Bank of Nova Scotia lifted its stake in Alexandria Real Estate Equities by 100.2% in the fourth quarter. Bank of Nova Scotia now owns 10,402 shares of the real estate investment trust’s stock worth $1,515,000 after acquiring an additional 5,206 shares during the period. Muzinich & Co. Inc. lifted its stake in Alexandria Real Estate Equities by 39.1% in the fourth quarter. Muzinich & Co. Inc. now owns 1,150 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 323 shares during the period. Cibc World Markets Corp lifted its stake in Alexandria Real Estate Equities by 4.3% in the fourth quarter. Cibc World Markets Corp now owns 65,688 shares of the real estate investment trust’s stock worth $9,569,000 after acquiring an additional 2,679 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alexandria Real Estate Equities by 14.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,827 shares of the real estate investment trust’s stock worth $3,762,000 after acquiring an additional 3,204 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Alexandria Real Estate Equities by 3,435.8% in the fourth quarter. Impax Asset Management Group plc now owns 246,979 shares of the real estate investment trust’s stock worth $35,977,000 after acquiring an additional 239,994 shares during the period. Institutional investors own 89.81% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ARE. Robert W. Baird raised their target price on shares of Alexandria Real Estate Equities from $162.00 to $174.00 and gave the company an “outperforming” rating in a research note on Thursday, February 2nd. Evercore ISI lowered their target price on shares of Alexandria Real Estate Equities to $168.00 in a research note on Friday, December 2nd. JMP Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Alexandria Real Estate Equities in a research note on Tuesday, January 31st. BTIG Research reduced their price target on shares of Alexandria Real Estate Equities from $233.00 to $186.00 in a research report on Wednesday, October 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alexandria Real Estate Equities from $176.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Moderate Buy” and an average target price of $175.38.
About Alexandria Real Estate Equities
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Alexandria Real Estate Equities, Inc engages in the business of providing space for lease. The firm is also an owner, operator, and developer of life science, agrotechnology, and technology campuses in Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.
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