Alexandria Real Estate Equities, Inc. (NYSE:ARE) Sees Significant Increase in Short Interest
Alexandria Real Estate Equities, Inc. (NYSE: ARE) received a significant spike in short interest in June. As of June 30, there was a short interest of 4,000,000 shares, an increase of 63.9% compared to June 15 with a total of 2,440,000 shares. Based on an average daily trading volume of 847,200 shares, the day-to-cover ratio is currently 4.7 days.
In other news from Alexandria Real Estate Equities, EVP Gary D. Dean sold 4,000 shares of the company in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $ 177.61 for a total transaction of $ 710,440.00. Following the sale, the executive vice president now owns 18,265 shares in the company valued at $ 3,244,046.65. The sale was announced in a legal filing with the Securities & Exchange Commission, available at this link. In addition, director Terezia C. Nemeth sold 1,000 shares of the company in a transaction that took place on Monday, May 3. The shares were sold at an average price of $ 180.03 for a total of $ 180,030.00. Following the sale, the director now owns 23,281 shares in the company valued at approximately $ 4,191,278.43. The disclosure for this sale can be found here. Insiders have sold 34,865 shares of the company valued at $ 6,268,947 in the past 90 days. 1.12% of the shares are currently owned by insiders.
Hedge funds and other institutional investors have recently changed their holdings in the business. Toronto Dominion Bank increased its stake in Alexandria Real Estate Equities by 3.7% in the first quarter. Toronto Dominion Bank now owns 96,082 shares of the real estate investment trust, valued at $ 15,786,000, after purchasing an additional 3,401 shares last quarter. Waterfront Capital Partners LLC bought a new position in Alexandria Real Estate Equities for $ 40,702,000 in the first quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Alexandria Real Estate Equities by 2.4% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 66,250 shares of the real estate investment trust valued at $ 10,885,000 after purchasing an additional 1,552 shares last quarter. Banco de Sabadell SA bought a new position in Alexandria Real Estate Equities for $ 80,000 in the first quarter. Finally, Cigna Investments Inc. New increased its stake in Alexandria Real Estate Equities by 5.0% in the first quarter. Cigna Investments Inc. New now owns 4,620 shares of the real estate investment trust valued at $ 759,000, after acquiring an additional 218 shares last quarter. 87.22% of the shares are owned by hedge funds and other institutional investors.
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ARE shares opened at $ 193.61 on Friday. Alexandria Real Estate Equities has a 12-month low of $ 150.08 and a 12-month high of $ 194.59. The company has a market capitalization of $ 28.56 billion, a price to earnings ratio of 25.93, a price to earnings ratio of 3.46, and a beta of 0.73. The company has a 50-day simple moving average of $ 182.90. The company has a leverage ratio of 0.58, a current ratio of 0.31, and a fast ratio of 0.31.
Alexandria Real Estate Equities (NYSE: ARE) last released its quarterly earnings data on Sunday April 25th. The Real Estate Investment Trust reported earnings per share (EPS) of $ 0.04 for the quarter, missing analysts’ consensus estimates of $ 1.85 ($ 1.81). Alexandria Real Estate Equities had a return on equity of 5.90% and a net margin of 39.49%. The company posted revenue of $ 479.85 million for the quarter, compared to the consensus estimate of $ 484.48 million. For the same period last year, the company had earnings per share of $ 0.14. The company’s quarterly sales increased 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Alexandria Real Estate Equities will post 7.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday June 30th received a dividend of $ 1.12 per share. This is a positive change from Alexandria Real Estate Equities’ previous quarterly dividend of $ 1.09. This equates to an annual dividend of $ 4.48 and a yield of 2.31%. The ex-dividend date was Tuesday, June 29th. Alexandria Real Estate Equities’ dividend payout ratio (DPR) is currently 61.37%.
A number of analysts recently rated the company. The Royal Bank of Canada raised its price target for Alexandria Real Estate Equities from USD 202.00 to USD 205.00 and rated the share as “outperform” in a research report on Wednesday, June 16. Robert W. Baird reiterated a “Buy” rating on Alexandria Real Estate Equities in a research report on Monday May 3rd. JMP Securities raised its price target for Alexandria Real Estate Equities from $ 200.00 to $ 210.00 and rated the stock as “Market Outperform” in a research report on Monday, July 12th. Finally, Mizuho reiterated a “buy” rating and set a price target of USD 200.00 on the shares of Alexandria Real Estate Equities in a research report on Wednesday. One stock research analyst has given the stock a hold rating and five a buy rating. The company currently has a consensus rating of “Buy” and a consensus price target of $ 194.17.
Alexandria Real Estate Equities company profile
Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500® Urban Office Real Estate Investment Trust (“REIT”), is the first, longest-standing, and groundbreaking owner, operator, and developer to uniquely feature collaborative life science, technology, and agtech campuses in AAA innovation cluster locations a total market focused a 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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