Legacy Capital Group California Inc. Trims Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Capital Group California Inc. lessened its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,878 shares of the real estate investment trust’s stock after selling 325 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Alexandria Real Estate Equities were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Alexandria Real Estate Equities by 0.6% in the first quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after buying an additional 156,643 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Alexandria Real Estate Equities by 0.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock worth $476,455,000 after purchasing an additional 35,216 shares during the period. M&G Plc boosted its holdings in shares of Alexandria Real Estate Equities by 4.9% during the second quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock worth $194,114,000 after purchasing an additional 77,686 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Alexandria Real Estate Equities by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock valued at $122,934,000 after purchasing an additional 10,576 shares during the period. Finally, Jennison Associates LLC increased its stake in Alexandria Real Estate Equities by 0.7% in the first quarter. Jennison Associates LLC now owns 1,017,986 shares of the real estate investment trust’s stock valued at $131,229,000 after purchasing an additional 7,043 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price target for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Evercore ISI cut their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Finally, Wedbush cut their target price on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $131.22.

Alexandria Real Estate Equities Trading Down 2.9 %

NYSE ARE opened at $116.38 on Friday. The stock has a market cap of $20.35 billion, a P/E ratio of 108.77, a PEG ratio of 3.99 and a beta of 1.16. The company’s fifty day simple moving average is $119.18 and its 200-day simple moving average is $118.79. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a 52 week low of $90.73 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the previous year, the company earned $2.26 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.47%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 485.98%.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.