Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,455 shares of the real estate investment trust’s stock after purchasing an additional 181 shares during the period. Pacer Advisors Inc.’s holdings in Alexandria Real Estate Equities were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ARE. Industrial Alliance Investment Management Inc. acquired a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $26,000. Confluence Wealth Services Inc. acquired a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $27,000. Cordasco Financial Network acquired a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $48,000. Covestor Ltd acquired a new stake in Alexandria Real Estate Equities in the 4th quarter worth approximately $55,000. Finally, Dark Forest Capital Management LP acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter worth approximately $57,000. Institutional investors own 94.49% of the company’s stock.
Several brokerages have commented on ARE. Credit Suisse Group began coverage on shares of Alexandria Real Estate Equities in a research note on Wednesday. They set a “neutral” rating and a $140.00 price objective for the company. 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. The Street cut shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a research note on Friday, March 11th. Finally, Mizuho decreased their price objective on shares of Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.17.
NYSE:ARE opened at $143.53 on Friday. 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 cap of $23.43 billion, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. The company has a 50-day moving average price of $164.54 and a 200-day moving average price of $187.77. 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 for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm earned $1.91 earnings per share. On average, sell-side 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. Stockholders of record on Thursday, June 30th will be issued a dividend of $1.18 per share. 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’s 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 value of $857,350.00. Following the completion of the sale, the chief executive officer now owns 175,602 shares of the company’s stock, valued at approximately $30,110,474.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Jackie B. Clem sold 1,865 shares of the business’s stock in a transaction 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 sale, the general counsel now directly 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. 0.96% of the stock is owned by insiders.
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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