Sumitomo Mitsui Trust Holdings Inc. Sells 61,505 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 906,797 shares of the real estate investment trust’s stock after selling 61,505 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Alexandria Real Estate Equities were worth $116,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alexandria Real Estate Equities in the fourth quarter worth approximately $2,086,085,000. Jennison Associates LLC increased its stake in 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 in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at about $36,223,000. Schroder Investment Management Group lifted its position in shares of Alexandria Real Estate Equities by 87.9% in the third quarter. Schroder Investment Management Group now owns 597,708 shares of the real estate investment trust’s stock valued at $59,831,000 after acquiring an additional 279,649 shares in the last quarter. Finally, First Financial Bankshares Inc purchased a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth about $31,260,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Evercore ISI dropped their target price on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.75.

Alexandria Real Estate Equities Price Performance

NYSE:ARE opened at $117.12 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $20.48 billion, a P/E ratio of 109.46, a P/E/G ratio of 2.93 and a beta of 1.15. Alexandria Real Estate Equities, Inc. has a 12 month low of $90.73 and a 12 month high of $135.45. The business’s 50-day moving average is $118.16 and its 200 day moving average is $121.68.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $1.30 dividend. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, June 28th. Alexandria Real Estate Equities’s payout ratio is currently 485.99%.

Insider Buying and Selling

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