Veriti Management LLC Increases Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Veriti Management LLC boosted its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 24.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC) . The firm owned 2,909 shares of the real estate investment trust’s stock after purchasing an additional 568 shares during the period. Veriti Management LLC’s holdings in Alexandria Real Estate Equities were worth $585,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dark Forest Capital Management LP purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $57,000. MML Investors Services LLC grew its holdings in shares of Alexandria Real Estate Equities by 8.9% during the 3rd quarter. MML Investors Services LLC now owns 2,681 shares of the real estate investment trust’s stock worth $512,000 after acquiring an additional 219 shares during the period. LPL Financial LLC grew its holdings in shares of Alexandria Real Estate Equities by 14.7% during the 3rd quarter. LPL Financial LLC now owns 15,338 shares of the real estate investment trust’s stock worth $2,931,000 after acquiring an additional 1,962 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Alexandria Real Estate Equities by 176.6% during the 3rd quarter. Squarepoint Ops LLC now owns 5,497 shares of the real estate investment trust’s stock worth $1,050,000 after acquiring an additional 3,510 shares during the period. Finally, Corient Capital Partners LLC purchased a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter worth approximately $210,000. Institutional investors own 94.49% of the company’s stock.

Several research firms recently weighed in on ARE. The Street downgraded Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a research note on Friday, March 11th. Credit Suisse Group began coverage on Alexandria Real Estate Equities in a research note on Wednesday. They issued a “neutral” rating and a $140.00 price target on the stock. Mizuho cut their price target on Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.17.

ARE stock opened at $143.53 on Friday. The stock’s 50 day simple moving average is $164.54 and its 200 day simple moving average is $187.77. The stock has a market capitalization of $23.43 billion, a PE ratio of 51.44, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.51. Alexandria Real Estate Equities, Inc. has a 12-month low of $130.00 and a 12-month high of $224.95.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.71). The firm had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. Alexandria Real Estate Equities had a net margin of 18.30% and a return on equity of 2.28%. Alexandria Real Estate Equities’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share. On average, research analysts predict that Alexandria Real Estate Equities, Inc. will post 8.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 3.29%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, June 29th. Alexandria Real Estate Equities’ dividend payout ratio is 164.88%.

In related news, CEO Stephen Richardson sold 5,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $171.47, for a total transaction of $857,350.00. Following the completion of the transaction, the chief executive officer now directly owns 175,602 shares in the company, valued at $30,110,474.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jackie B. Clem sold 1,865 shares of the company’s stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $189.55, for a total transaction of $353,510.75. Following the completion of the transaction, the general counsel now owns 24,039 shares of the company’s stock, valued at approximately $4,556,592.45. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

About Alexandria Real Estate Equities (Get Rating)

Alexandria Real Estate Equities, Inc (NYSE:ARE), on the S&P 500^® urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).

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