Pinnacle Wealth Planning Services Inc. acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,261 shares of the real estate investment trust’s stock, valued at approximately $254,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Alexandria Real Estate Equities by 6.0% in the 4th quarter. BlackRock Inc. now owns 14,913,187 shares of the real estate investment trust’s stock worth $3,325,044,000 after acquiring an additional 842,831 shares during the last quarter. Norges Bank purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth about $3,007,227,000. State Street Corp increased its holdings in Alexandria Real Estate Equities by 9.9% in the 4th quarter. State Street Corp now owns 9,128,518 shares of the real estate investment trust’s stock worth $2,045,623,000 after acquiring an additional 822,034 shares during the last quarter. Capital World Investors increased its holdings in Alexandria Real Estate Equities by 0.3% in the 4th quarter. Capital World Investors now owns 3,624,923 shares of the real estate investment trust’s stock worth $808,213,000 after acquiring an additional 9,123 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Alexandria Real Estate Equities by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,273,413 shares of the real estate investment trust’s stock worth $729,841,000 after acquiring an additional 186,573 shares during the last quarter. 94.49% of the stock is owned by institutional investors.
Several brokerages recently weighed in on ARE. Credit Suisse Group assumed coverage on Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $140.00 price objective for the company. StockNews.com lowered Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Mizuho reduced their target price on Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Finally, TheStreet lowered Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.17.
In related news, CEO Stephen Richardson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $171.47, for a total value of $857,350.00. Following the completion of the sale, the chief executive officer now owns 175,602 shares in the company, valued at approximately $30,110,474.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jackie B. Clem sold 1,865 shares of the business’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $189.55, for a total value of $353,510.75. Following the completion of the sale, the general counsel now owns 24,039 shares of the company’s stock, valued at approximately $4,556,592.45. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
Shares of ARE opened at $148.13 on Monday. The company has a market cap of $24.18 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $159.33 and a 200-day moving average price of $185.00. Alexandria Real Estate Equities, Inc. has a 12-month low of $130.00 and a 12-month high of $224.95.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.71). The business had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. Alexandria Real Estate Equities had a net margin of 18.30% and a return on equity of 2.28%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. As a group, analysts predict that Alexandria Real Estate Equities, Inc. will post 8.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, June 29th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 169.18%.
Alexandria Real Estate Equities Profile (Get Rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).
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