Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) benefited from a significant drop in short interest in August. As of August 31, there was short interest totaling 6,820,000 shares, down 10.5% from the total of 7,620,000 shares as of August 15. Based on an average trading volume of 1,090,000 shares, the day-to-cover ratio is currently 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 Saturday, August 13 research report. Credit Suisse Group began covering Alexandria real estate stocks in a research report on Wednesday, June 22. They issued a “neutral” rating and a price target of $140.00 on the stock. Evercore ISI raised its price target on Alexandria real estate shares from $185.00 to $194.00 in a Monday, September 12 research report. Mizuho raised his price target on Alexandria Real Estate Equities shares from $172.00 to $178.00 and gave the stock a “buy” rating in a Monday, September 12 research note. Finally, JMP Securities lowered its price target on Alexandria Real Estate Equities shares from $230.00 to $200.00 and set a “market outperformance” rating for the company in a Wednesday research note. July 27. One equity research analyst gave the stock a sell rating, one issued a hold rating and four gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $189.00.
Insider Trading at Alexandria Real Estate Equities
In other news from Alexandria Real Estate Equities, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the company in a transaction dated Monday, June 27. The shares were 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, valued at $4,555,077. The purchase was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Separately, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the company in a transaction that took place on Monday, June 27. 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, valued at $4,555,077. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Director Maria C. Freire sold 2,311 shares of Alexandria Real Estate Equities in a trade on Thursday, July 28. 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, valued at $489,120. The disclosure of this sale can be found here. Insiders of the company hold 0.96% of the shares of the company.
Institutional investors weigh on Alexandria real estate stocks
Several hedge funds have recently bought and sold shares of ARE. Allianz Asset Management GmbH increased its holdings of Alexandria Real Estate Equities shares by 2.8% during the fourth quarter. Allianz Asset Management GmbH now owns 106,468 shares of the real estate investment trust worth $23,738,000 after purchasing an additional 2,870 shares during the period. MAI Capital Management increased its holdings of Alexandria Real Estate Equities shares by 43.1% during the fourth quarter. MAI Capital Management now owns 2,403 shares of the real estate investment trust worth $536,000 after acquiring 724 additional shares in the last quarter. O Shaughnessy Asset Management LLC increased 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 worth $334,000 after buying 606 additional shares in the last quarter. PFS Investments Inc. increased its holdings of Alexandria Real Estate Equities shares by 12.7% during the 4th quarter. PFS Investments Inc. now owns 10,987 shares of the real estate investment trust worth $2,450,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Alexandria Real Estate Equities shares by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 2,941,011 shares of the real estate investment trust worth $654,215,000 after purchasing an additional 157,857 shares last quarter. 91.81% of the shares are held by hedge funds and other institutional investors.
Alexandria Real Estate Stock Price Performance
Shares of Alexandria Real Estate Equities traded down $4.39 during Monday’s trading, hitting $146.27. The stock had a trading volume of 2,455 shares, compared to an 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 ratio of 0.50, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $23.87 billion, a P/E ratio of 81.44, a PEG ratio of 2.32 and a beta of 0.93. The company 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 released its results on Monday, July 25. The real estate investment trust reported earnings per share of $1.67 for the quarter, beating analysts’ consensus estimate of $0.66 by $1.01. The company posted revenue of $643.80 million in the quarter, compared to $633.13 million expected by analysts. Alexandria Real Estate Equities posted a net margin of 12.54% and a return on equity of 1.93%. The company’s revenue for the quarter increased by 26.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $1.93. On average, sell-side analysts expect Alexandria Real Estate Equities to post earnings per share of 8.41 for the current fiscal year.
Alexandria Real Estate Equities Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 30 will receive a dividend of $1.18 per share. The ex-dividend date is Thursday, September 29. This represents a dividend of $4.72 on an annualized basis and a dividend yield of 3.23%. Alexandria Real Estate Equities’ dividend payout ratio is 255.14%.
About Alexandria Real Estate Stocks
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Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 urban office real estate investment trust (“REIT”)®, is the oldest and oldest first owner, operator and operator. developer focused solely on collaborative life sciences, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020 and a base of assets in North America of 49.7 million square feet (“SF”).
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