Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 40.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,898 shares of the real estate investment trust’s stock after selling 1,278 shares during the quarter. Wedbush Securities Inc.’s holdings in Alexandria Real Estate Equities were worth $382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Veriti Management LLC grew its holdings in shares of Alexandria Real Estate Equities by 24.3% in the 1st quarter. Veriti Management LLC now owns 2,909 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 568 shares during the last quarter. Nomura Asset Management Co.Ltd. its holdings in shares of Alexandria Real Estate Equities grew by 6.8% in the 4th quarter. Nomura Asset Management Co.Ltd. now owns 148,919 shares of the real estate investment trust’s stock worth $33,203,000 after acquiring an additional 9,542 shares during the last quarter. BTC Capital Management Inc. grew its holdings in shares of Alexandria Real Estate Equities by 29.6% in the 4th quarter. BTC Capital Management Inc. now owns 2,915 shares of the real estate investment trust’s stock worth $650,000 after acquiring an additional 665 shares during the last quarter. Capital World Investors grew its holdings in shares of Alexandria Real Estate Equities by 0.3% in the 4th quarter. Capital World Investors now owns 3,624,923 shares of the real estate investment trust’s stock worth $808,213,000 after acquiring an additional 9,123 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Alexandria Real Estate Equities in the 4th quarter worth $107,000. Institutional investors and hedge funds own 94.49% of the company’s stock.

A number of brokerages have recently weighed in on ARE. The Street downgraded Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Credit Suisse Group began coverage on Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They set a “neutral” rating and a $140.00 price target on the stock. Finally, Mizuho lowered their price target on Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. One 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.17.

ARE opened at $148.13 on Tuesday. Alexandria Real Estate Equities, Inc. has a 1 year low of $130.00 and a 1 year high of $224.95. The stock has a fifty day moving average price of $158.43 and a 200 day moving average price of $184.53. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 53.09, a PEG ratio of 2.28 and a beta of 0.88. 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 (NYSE:ARE – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.71). Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. The company had revenue of $615.10 million during the quarter, compared to analyst estimates of $595.35 million. During the same period in the prior year, the firm earned $1.91 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.4 earnings per share for the current fiscal year.

The firm 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. The ex-dividend date is Wednesday, June 29th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.19%. Alexandria Real Estate Equities’s payout ratio is currently 169.18%.

In other news, CEO Stephen Richardson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $171.47, for a total value of $857,350.00. Following the sale, the chief executive officer now directly owns 175,602 shares in the company, valued at approximately $30,110,474.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the stock in a transaction dated Monday, June 27th. The stock was bought at an average price of $1.00 per share, for a total transaction of $3,500,000.00. Following the completion of the purchase, the insider now owns 4,555,077 shares in the company, valued at approximately $4,555,077. The disclosure for this purchase can be found here. Insiders own 0.96% of the company’s stock.

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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