CIBC Asset Management Inc Buys 14,992 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

CIBC Asset Management Inc lifted its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 67.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,276 shares of the real estate investment trust’s stock after buying an additional 14,992 shares during the quarter. CIBC Asset Management Inc’s holdings in Alexandria Real Estate Equities were worth $4,427,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARE. Metis Global Partners LLC raised its holdings in Alexandria Real Estate Equities by 17.0% in the 3rd quarter. Metis Global Partners LLC now owns 36,878 shares of the real estate investment trust’s stock valued at $4,379,000 after acquiring an additional 5,367 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Alexandria Real Estate Equities by 22,994.7% in the third quarter. Zions Bancorporation N.A. now owns 30,254 shares of the real estate investment trust’s stock valued at $3,593,000 after acquiring an additional 30,123 shares in the last quarter. KBC Group NV increased its holdings in shares of Alexandria Real Estate Equities by 315.9% during the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock worth $20,110,000 after purchasing an additional 128,634 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Alexandria Real Estate Equities by 5.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,750 shares of the real estate investment trust’s stock worth $3,295,000 after acquiring an additional 1,368 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Alexandria Real Estate Equities by 22.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 14,916 shares of the real estate investment trust’s stock worth $1,771,000 after purchasing an additional 2,687 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Trading Down 0.3 %

NYSE ARE opened at $105.22 on Tuesday. Alexandria Real Estate Equities, Inc. has a 12 month low of $102.24 and a 12 month high of $135.45. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $18.39 billion, a PE ratio of 64.16, a price-to-earnings-growth ratio of 3.95 and a beta of 1.16. The business’s 50-day moving average price is $116.84 and its two-hundred day moving average price is $117.75.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results 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 firm had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.26 EPS. On average, analysts expect 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 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 was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.94%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 317.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARE. Wedbush decreased their price objective on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. 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. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $112.00 in a research report on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target (down from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average target price of $127.30.

Alexandria Real Estate Equities 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.