Ensign Peak Advisors Inc Increases Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Ensign Peak Advisors Inc raised its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,483 shares of the real estate investment trust’s stock after acquiring an additional 7,300 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Alexandria Real Estate Equities were worth $7,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. M&G Plc bought a new stake in Alexandria Real Estate Equities during the first quarter valued at about $204,001,000. Russell Investments Group Ltd. grew its stake in shares of Alexandria Real Estate Equities by 153.0% during the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock valued at $100,205,000 after acquiring an additional 470,076 shares during the period. DAVENPORT & Co LLC purchased a new stake in Alexandria Real Estate Equities in the 1st quarter worth approximately $55,075,000. First Financial Bankshares Inc bought a new stake in Alexandria Real Estate Equities during the 4th quarter worth approximately $31,260,000. Finally, Presima Securities ULC lifted its holdings in Alexandria Real Estate Equities by 4,714.5% during the fourth quarter. Presima Securities ULC now owns 226,281 shares of the real estate investment trust’s stock valued at $28,686,000 after purchasing an additional 221,581 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Wall Street Analyst Weigh In

ARE has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $130.00 to $125.00 in a report on Friday, September 13th. Wedbush lowered 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 research note on Wednesday, July 24th. Evercore ISI increased their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Bank of America cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and a consensus target price of $130.70.

Alexandria Real Estate Equities Stock Up 1.8 %

Shares of ARE opened at $124.41 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 116.27, a price-to-earnings-growth ratio of 4.20 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 1 year low of $90.73 and a 1 year high of $135.45. The business’s 50 day simple moving average is $118.73 and its 200-day simple moving average is $119.77.

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

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, September 30th. This represents a $5.20 annualized dividend and a yield of 4.18%. Alexandria Real Estate Equities’s 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.