Assenagon Asset Management S.A. Raises Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Assenagon Asset Management SA raised its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 760.3% in the first quarter, Holdings Channel reports. The institutional investor owned 11,124 shares of the real estate investment trust’s stock after purchasing an additional 9,831 shares during the period. Assenagon Asset Management SA’s holdings in Alexandria Real Estate Equities were worth $2,239,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. purchased a new position in Alexandria Real Estate Equities in the first quarter valued at $254,000. Veriti Management LLC increased its stake in shares of Alexandria Real Estate Equities by 24.3% during the first quarter. Veriti Management LLC now owns 2,909 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 568 shares in the last quarter. Nomura Asset Management Co.Ltd. increased its stake in shares of Alexandria Real Estate Equities by 6.8% during the fourth quarter. Nomura Asset Management Co.Ltd. now owns 148,919 shares of the real estate investment trust’s stock worth $33,203,000 after purchasing an additional 9,542 shares in the last quarter. Naviter Wealth LLC increased its stake in shares of Alexandria Real Estate Equities by 51.4% during the first quarter. Naviter Wealth LLC now owns 3,795 shares of the real estate investment trust’s stock worth $768,000 after purchasing an additional 1,289 shares in the last quarter. Finally, BTC Capital Management Inc. increased its stake in shares of Alexandria Real Estate Equities by 29.6% during the fourth quarter. BTC Capital Management Inc. now owns 2,915 shares of the real estate investment trust’s stock worth $650,000 after purchasing an additional 665 shares in the last quarter. 94.49% of the stock is owned by institutional investors.

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 shares were sold at an average price of $171.47, for a total value of $857,350.00. Following the transaction, the chief executive officer now directly owns 175,602 shares in the company, valued at approximately $30,110,474.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jackie B. Clem sold 1,865 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $4,556,592.45. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

ARE has been the subject of a number of research reports. Mizuho cut their target price on shares in Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. StockNews.com cut shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. Finally, Credit Suisse Group started coverage on shares of Alexandria Real Estate Equities in a research report on Wednesday, June 22nd. They set a “neutral” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average target price of $157.40.

NYSE:ARE opened at $140.68 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 50.42, a PEG ratio of 2.21 and a beta of 0.88. The company’s 50-day moving average is $153.01 and its two-hundred day moving average is $181.52. Alexandria Real Estate Equities, Inc. has a 1-year low of $130.00 and a 1-year high of $224.95.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last posted its 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 during the quarter, compared to analyst estimates of $595.35 million. Alexandria Real Estate Equities had a net margin of 18.30% and a return on equity of 2.28%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 earnings per share. As a group, equities analysts anticipate that Alexandria Real Estate Equities, Inc. will post 8.4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.36%. 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’s payout ratio is currently 169.18%.

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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