Kentucky Retirement Systems Reduces Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Kentucky Retirement Systems lowered its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,861 shares of the real estate investment trust’s stock after selling 98 shares during the quarter. Kentucky Retirement Systems’ holdings in Alexandria Real Estate Equities were worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ARE. CCLA Investment Management grew its holdings in Alexandria Real Estate Equities by 0.9% in the 2nd quarter. CCLA Investment Management now owns 809,068 shares of the real estate investment trust’s stock valued at $94,107,000 after buying an additional 6,952 shares during the period. Elo Mutual Pension Insurance Co grew its holdings in Alexandria Real Estate Equities by 2.2% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 15,420 shares of the real estate investment trust’s stock valued at $1,804,000 after buying an additional 336 shares during the period. Tredje AP fonden grew its holdings in Alexandria Real Estate Equities by 69.1% in the 2nd quarter. Tredje AP fonden now owns 103,543 shares of the real estate investment trust’s stock valued at $12,111,000 after buying an additional 42,295 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Alexandria Real Estate Equities by 7.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,210 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 280 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at about $1,475,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

Shares of ARE opened at $121.25 on Friday. The company has a market cap of $21.20 billion, a P/E ratio of 113.32, a PEG ratio of 4.20 and a beta of 1.16. The stock has a fifty day moving average price of $118.90 and a 200 day moving average price of $119.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. Alexandria Real Estate Equities, Inc. has a 12 month low of $90.73 and a 12 month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). The company had revenue of $766.70 million for the quarter, compared to the consensus estimate of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 earnings per share. On average, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.

Analyst Upgrades and Downgrades

Several research firms have commented on ARE. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Bank of America downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Wedbush downgraded Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $130.00 in a report on Wednesday, July 24th. Finally, Jefferies Financial Group downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price target for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $130.70.

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.