Raymond James & Associates Reduces Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Raymond James & Associates reduced its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,391 shares of the real estate investment trust’s stock after selling 5,355 shares during the period. Raymond James & Associates’ holdings in Alexandria Real Estate Equities were worth $5,660,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ARE. EverSource Wealth Advisors LLC boosted its stake in shares of Alexandria Real Estate Equities by 275.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth about $30,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth about $35,000. Glassman Wealth Services boosted its stake in shares of Alexandria Real Estate Equities by 122.1% during the 4th quarter. Glassman Wealth Services now owns 291 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth about $37,000. 96.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $151.00 to $126.00 in a report on Monday, July 29th. Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Evercore ISI lifted their price target on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $131.33.

Alexandria Real Estate Equities Stock Performance

NYSE:ARE opened at $119.11 on Thursday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of 111.32, a PEG ratio of 4.00 and a beta of 1.15. The firm’s fifty day simple moving average is $117.94 and its 200 day simple moving average is $119.83. Alexandria Real Estate Equities, Inc. has a twelve month low of $90.73 and a twelve month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted 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 business had revenue of $766.70 million for the quarter, compared to analyst estimates of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 EPS. As a group, equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.48 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $1.30 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.20 annualized dividend and a yield of 4.37%. Alexandria Real Estate Equities’s payout ratio is 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.