Employees Retirement System of Texas Decreases Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Employees Retirement System of Texas cut its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the quarter. Employees Retirement System of Texas owned approximately 0.05% of Alexandria Real Estate Equities worth $10,878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARE. PNC Financial Services Group Inc. boosted its holdings in Alexandria Real Estate Equities by 21.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,243 shares of the real estate investment trust’s stock worth $1,425,000 after buying an additional 1,981 shares during the period. D.A. Davidson & CO. grew its position in shares of Alexandria Real Estate Equities by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 3,905 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 205 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $30,000 after purchasing an additional 171 shares during the period. US Bancorp DE lifted its holdings in Alexandria Real Estate Equities by 97.6% during the 4th quarter. US Bancorp DE now owns 19,317 shares of the real estate investment trust’s stock worth $2,449,000 after purchasing an additional 9,539 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Alexandria Real Estate Equities by 95.4% in the 4th quarter. Intech Investment Management LLC now owns 4,214 shares of the real estate investment trust’s stock worth $534,000 after purchasing an additional 2,057 shares during the period. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

ARE opened at $124.26 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 stock has a market capitalization of $21.74 billion, a P/E ratio of 116.13, a PEG ratio of 4.26 and a beta of 1.16. The stock has a 50-day moving average price of $118.73 and a 200-day moving average price of $119.77. 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 earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($2.09). The firm had revenue of $766.70 million during 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 quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.24 EPS. Equities analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is presently 485.99%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARE. JMP Securities reiterated 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. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Bank of America downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Finally, Royal Bank of Canada reduced their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average price target of $130.70.

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.