Gofen & Glossberg LLC IL Has $1.13 Million Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Gofen & Glossberg LLC IL trimmed its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 10.8% in the first quarter, Holdings Channel.com reports. The firm owned 5,589 shares of the real estate investment trust’s stock after selling 675 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Alexandria Real Estate Equities were worth $1,125,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ARE. Norges Bank acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth approximately $3,007,227,000. BlackRock Inc. grew its holdings in Alexandria Real Estate Equities by 6.0% during the 4th quarter. BlackRock Inc. now owns 14,913,187 shares of the real estate investment trust’s stock worth $3,325,044,000 after acquiring an additional 842,831 shares during the last quarter. State Street Corp grew its holdings in Alexandria Real Estate Equities by 9.9% during the 4th quarter. State Street Corp now owns 9,128,518 shares of the real estate investment trust’s stock worth $2,045,623,000 after acquiring an additional 822,034 shares during the last quarter. Citigroup Inc. grew its holdings in Alexandria Real Estate Equities by 101.4% during the 4th quarter. Citigroup Inc. now owns 737,792 shares of the real estate investment trust’s stock worth $164,498,000 after acquiring an additional 371,428 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Alexandria Real Estate Equities by 737.2% during the 4th quarter. Renaissance Technologies LLC now owns 301,400 shares of the real estate investment trust’s stock worth $67,200,000 after acquiring an additional 265,400 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.

NYSE:ARE opened at $143.53 on Friday. The firm’s fifty-day moving average is $164.54 and its 200-day moving average is $187.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.40 and a current ratio of 0.40. Alexandria Real Estate Equities, Inc. has a 52 week low of $130.00 and a 52 week high of $224.95. The firm has a market cap of $23.43 billion, a P/E ratio of 51.44, a P/E/G ratio of 2.21 and a beta of 0.85.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, June 29th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. Alexandria Real Estate Equities’s payout ratio is currently 164.88%.

In related news, General Counsel Jackie B. Clem sold 1,865 shares of the business’s stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $189.55, for a total transaction of $353,510.75. Following the transaction, the general counsel now owns 24,039 shares in the company, valued at approximately $4,556,592.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now owns 175,602 shares in the company, valued at approximately $30,110,474.94. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

ARE has been the topic of a number of research reports. The Street lowered shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. Mizuho reduced their target price on shares of Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating on the stock in a report on Thursday. Credit Suisse Group assumed coverage on shares of Alexandria Real Estate Equities in a report on Wednesday. They set a “neutral” rating and a $140.00 target price on the stock. Finally, StockNews.com lowered shares of 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 assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Moderate Buy” and an average target price of $166.17.

Alexandria Real Estate Equities Company Profile (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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