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Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 6,820,000 shares, a decrease of 10.5% from the August 15th total of 7,620,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 6.3 days.
Analysts Set New Price Targets
Several brokerages have recently weighed in on ARE. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Saturday, August 13th. Credit Suisse Group started coverage on Alexandria Real Estate Equities in a research report on Wednesday, June 22nd. They issued a “neutral” rating and a $140.00 price target on the stock. Evercore ISI increased their price objective on Alexandria Real Estate Equities from $185.00 to $194.00 in a research report on Monday, September 12th. Mizuho raised their price objective on shares of Alexandria Real Estate Equities from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, JMP Securities dropped their price objective on shares of Alexandria Real Estate Equities from $230.00 to $200.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.00.
Insider Transactions at Alexandria Real Estate Equities
In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $3,500,000.00. Following the completion of the transaction, the insider now directly owns 4,555,077 shares of the company’s stock, valued at $4,555,077. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $3,500,000.00. Following the acquisition, the insider now owns 4,555,077 shares of the company’s stock, valued at $4,555,077. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maria C. Freire sold 2,311 shares of Alexandria Real Estate Equities stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $163.04, for a total value of $376,785.44. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $489,120. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
Institutional Investors Weigh In On Alexandria Real Estate Equities
Several hedge funds have recently bought and sold shares of ARE. Allianz Asset Management GmbH boosted its holdings in shares of Alexandria Real Estate Equities by 2.8% during the fourth quarter. Allianz Asset Management GmbH now owns 106,468 shares of the real estate investment trust’s stock worth $23,738,000 after purchasing an additional 2,870 shares during the period. MAI Capital Management raised its holdings in shares of Alexandria Real Estate Equities by 43.1% during the fourth quarter. MAI Capital Management now owns 2,403 shares of the real estate investment trust’s stock worth $536,000 after acquiring an additional 724 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Alexandria Real Estate Equities by 67.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,499 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 606 shares in the last quarter. PFS Investments Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 12.7% during the 4th quarter. PFS Investments Inc. now owns 10,987 shares of the real estate investment trust’s stock valued at $2,450,000 after buying an additional 1,238 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Alexandria Real Estate Equities by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 2,941,011 shares of the real estate investment trust’s stock valued at $654,215,000 after buying an additional 157,857 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.
Alexandria Real Estate Equities Price Performance
Shares of Alexandria Real Estate Equities stock traded down $4.39 during trading on Monday, hitting $146.27. The stock had a trading volume of 2,455 shares, compared to its average volume of 1,045,994. Alexandria Real Estate Equities has a fifty-two week low of $130.00 and a fifty-two week high of $224.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $23.87 billion, a P/E ratio of 81.44, a PEG ratio of 2.32 and a beta of 0.93. The business has a fifty day moving average of $156.24 and a two-hundred day moving average of $167.54.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its earnings results on Monday, July 25th. The real estate investment trust reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $1.01. The firm had revenue of $643.80 million during the quarter, compared to analysts’ expectations of $633.13 million. Alexandria Real Estate Equities had a net margin of 12.54% and a return on equity of 1.93%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. On average, sell-side analysts expect that Alexandria Real Estate Equities will post 8.41 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $1.18 per share. The ex-dividend date is Thursday, September 29th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.23%. Alexandria Real Estate Equities’s dividend payout ratio is 255.14%.
About Alexandria Real Estate Equities
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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