Earnest Partners LLC Reduces Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Earnest Partners LLC lowered its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 430,203 shares of the real estate investment trust’s stock after selling 22,140 shares during the quarter. Earnest Partners LLC’s holdings in Alexandria Real Estate Equities were worth $55,457,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ARE. Norges Bank purchased a new position in Alexandria Real Estate Equities during the 4th quarter valued at $2,086,085,000. M&G Plc purchased a new stake in shares of Alexandria Real Estate Equities in the 1st quarter worth $204,001,000. Jennison Associates LLC lifted its holdings in shares of Alexandria Real Estate Equities by 180.3% in the 4th quarter. Jennison Associates LLC now owns 1,010,943 shares of the real estate investment trust’s stock worth $128,157,000 after buying an additional 650,248 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Alexandria Real Estate Equities by 153.0% in the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after buying an additional 470,076 shares during the period. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Alexandria Real Estate Equities in the 1st quarter worth $55,075,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Down 1.3 %

Shares of NYSE ARE traded down $1.52 during mid-day trading on Monday, reaching $117.40. 735,079 shares of the company were exchanged, compared to its average volume of 920,890. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 109.76, a P/E/G ratio of 2.98 and a beta of 1.15. Alexandria Real Estate Equities, Inc. has a 1 year low of $90.73 and a 1 year high of $135.45. The firm has a 50-day moving average of $118.62 and a 200 day moving average of $120.83.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. During the same quarter last year, the company earned $2.24 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.49 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.30 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, June 28th. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.99%.

Analysts Set New Price Targets

ARE has been the subject of several research reports. Bank of America cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $151.00 to $126.00 in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Evercore ISI cut Alexandria Real Estate Equities from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $133.00 to $126.00 in a report on Thursday. Finally, Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $130.00 in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and an average target price of $132.75.

Insider Activity at Alexandria Real Estate Equities

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is currently owned by corporate insiders.

Alexandria Real Estate Equities Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.