Procyon Advisors LLC Makes New Investment in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Procyon Advisors LLC bought a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,039 shares of the real estate investment trust’s stock, valued at approximately $242,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after acquiring an additional 156,643 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Alexandria Real Estate Equities by 0.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock worth $476,455,000 after purchasing an additional 35,216 shares during the period. M&G Plc lifted its holdings in shares of Alexandria Real Estate Equities by 4.9% in the 2nd quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock worth $194,114,000 after buying an additional 77,686 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Alexandria Real Estate Equities by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock worth $122,934,000 after buying an additional 10,576 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Alexandria Real Estate Equities by 0.7% during the first quarter. Jennison Associates LLC now owns 1,017,986 shares of the real estate investment trust’s stock valued at $131,229,000 after buying an additional 7,043 shares during the period. 96.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARE. Evercore ISI upped their price objective on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price target for the company from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $133.22.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $122.70 on Thursday. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $21.46 billion, a PE ratio of 114.67, a P/E/G ratio of 3.99 and a beta of 1.16. The business has a 50-day simple moving average of $118.48 and a two-hundred day simple moving average of $118.93.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($2.09). The company had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.24 EPS. As a group, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.24%. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

Alexandria Real Estate Equities Company 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.