Allspring Global Investments Holdings LLC Cuts Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,850 shares of the real estate investment trust’s stock after selling 964 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alexandria Real Estate Equities were worth $2,476,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State of Michigan Retirement System grew its stake in shares of Alexandria Real Estate Equities by 0.7% in the first quarter. State of Michigan Retirement System now owns 43,118 shares of the real estate investment trust’s stock worth $5,558,000 after acquiring an additional 300 shares during the last quarter. Norden Group LLC bought a new position in Alexandria Real Estate Equities in the 1st quarter worth about $963,000. Advisor Resource Council purchased a new stake in Alexandria Real Estate Equities during the 1st quarter valued at about $253,000. First Trust Direct Indexing L.P. increased its stake in Alexandria Real Estate Equities by 20.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,131 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 537 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in Alexandria Real Estate Equities by 176.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 5,705 shares of the real estate investment trust’s stock worth $735,000 after buying an additional 3,640 shares during the last quarter. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Trading Down 0.9 %

NYSE:ARE opened at $111.65 on Wednesday. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. 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 business has a fifty day moving average price of $119.05 and a 200-day moving average price of $118.42. Alexandria Real Estate Equities, Inc. has a one year low of $90.73 and a one year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The company had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. Sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.66%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARE. Evercore ISI cut their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their target price for the company from $130.00 to $125.00 in a research note on Friday, September 13th. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price objective (down from $130.00) on shares of Alexandria Real Estate Equities in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $131.22.

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.