Creative Planning Trims Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Creative Planning lowered its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 13.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,988 shares of the real estate investment trust’s stock after selling 796 shares during the period. Creative Planning’s holdings in Alexandria Real Estate Equities were worth $699,000 as of its most recent SEC filing.

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Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Alexandria Real Estate Equities by 16.6% during the second quarter. Principal Financial Group Inc. now owns 5,982,503 shares of the real estate investment trust’s stock valued at $867,648,000 after acquiring an additional 852,420 shares in the last quarter. Parnassus Investments LLC grew its stake in Alexandria Real Estate Equities by 9.5% during the second quarter. Parnassus Investments LLC now owns 3,787,899 shares of the real estate investment trust’s stock valued at $549,359,000 after acquiring an additional 328,490 shares in the last quarter. Victory Capital Management Inc. grew its stake in Alexandria Real Estate Equities by 26.2% during the third quarter. Victory Capital Management Inc. now owns 3,090,755 shares of the real estate investment trust’s stock valued at $433,293,000 after acquiring an additional 642,310 shares in the last quarter. Northern Trust Corp grew its stake in Alexandria Real Estate Equities by 2.1% during the first quarter. Northern Trust Corp now owns 2,291,076 shares of the real estate investment trust’s stock valued at $461,079,000 after acquiring an additional 46,933 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Alexandria Real Estate Equities by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 2,244,067 shares of the real estate investment trust’s stock worth $325,459,000 after buying an additional 178,951 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Alexandria Real Estate Equities Trading Up 2.1%

NYSE:ARE opened at $160.74 on Wednesday. The company has a fifty day moving average of $150.95 and a 200 day moving average of $150.04. Alexandria Real Estate Equities, Inc. has a 52 week low of $126.74 and a 52 week high of $206.85. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $26.38 billion, a P/E ratio of 48.86, a P/E/G ratio of 2.33 and a beta of 0.91.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($1.82). Alexandria Real Estate Equities had a net margin of 21.73% and a return on equity of 3.03%. The firm had revenue of $670.28 million for the quarter, compared to the consensus estimate of $674.21 million. During the same quarter in the prior year, the company earned $1.97 earnings per share. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, research analysts predict that Alexandria Real Estate Equities, Inc. will post 8.41 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a dividend of $1.21 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. This represents a $4.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Thursday, December 29th. Alexandria Real Estate Equities’s dividend payout ratio is currently 147.11%.

Analyst Rating Changes

A number of equities analysts have commented on ARE shares. JMP Securities reissued a “buy” rating and issued a $180.00 price target on shares of Alexandria Real Estate Equities in a research note on Thursday, October 6th. BTIG Research cut their price target on shares of Alexandria Real Estate Equities from $233.00 to $186.00 in a research note on Wednesday, October 19th. Robert W. Baird boosted their price target on shares of Alexandria Real Estate Equities from $151.00 to $162.00 in a research note on Friday, December 2nd. Royal Bank of Canada cut their price target on shares of Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Finally, Evercore ISI cut their price objective on shares of Alexandria Real Estate Equities to $168.00 in a research note on Friday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Moderate Buy” and a consensus target price of $173.43.

Insider Activity at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, insider Vincent Ciruzzi sold 6,998 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $150.76, for a total value of $1,055,018.48. Following the completion of the transaction, the insider now directly owns 39,806 shares in the company, valued at approximately $6,001,152.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alexandria Real Estate Equities news, insider Vincent Ciruzzi sold 6,998 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $150.76, for a total value of $1,055,018.48. Following the completion of the transaction, the insider now directly owns 39,806 shares in the company, valued at approximately $6,001,152.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marc E. Binda sold 3,316 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $154.00, for a total transaction of $510,664.00. Following the completion of the transaction, the executive vice president now owns 49,413 shares of the company’s stock, valued at $7,609,602. The disclosure for this sale can be found here. Insiders sold 34,253 shares of company stock worth $5,179,946 in the last three months. 0.96% of the stock is owned by insiders.

Alexandria Real Estate Equities Profile

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Alexandria Real Estate Equities, Inc is an urban office real estate investment trust. The firm engages in the ownership, operation, development, and redevelopment of life science and technology properties. It also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations.

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