First Affirmative Financial Network increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 12.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,020 shares of Real Estate Investment Trust after purchasing an additional 219 shares during the quarter. First Affirmative Financial Network’s holdings in Alexandria Real Estate Equities were worth $407,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also changed their positions in the company. Confluence Wealth Services Inc. acquired a new position in Alexandria Real Estate Equities valued at approximately $27,000 during the fourth quarter. Consolidated Planning Corp acquired a $39,000 new interest in Alexandria Real Estate Equities during the third quarter. Cordasco Financial Network acquired a new $48,000 stake in Alexandria Real Estate Equities during the fourth quarter. Covestor Ltd acquired a new $55,000 stake in Alexandria Real Estate Equities during the fourth quarter. Finally, Dark Forest Capital Management LP acquired a new $57,000 stake in Alexandria Real Estate Equities during the third quarter. Institutional investors and hedge funds own 94.49% of the company’s shares.
ARE has been the subject of several analyst reports. TheStreet downgraded shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report Thursday, April 28. One analyst has assigned a sell rating to the stock, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.80.
In related news, General Counsel Jackie B. Clem sold 1,865 shares of the company’s shares in a transaction on Wednesday, April 27. The shares sold at an average price of $189.55 for a total value of $353,510.75. Following the closing of the transaction, General Counsel now owns 24,039 shares of the Company, valued at $4,556,592.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also on Monday, May 9, CEO Stephen Richardson sold 5,000 shares of the company’s stock in a transaction. The shares were sold at an average price of $171.47 for a total transaction of $857,350.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 175,602 shares of the Company, valued at approximately $30,110,474.94. The disclosure for this sale can be found here. 0.96% of the shares are currently owned by company insiders.
Shares of ARE stock rose $0.58 during trading hours on Wednesday to hit $132.20. 787 shares of the company were exchanged compared to an average volume of 1,124,363. The company has a 50-day moving average of $168.05 and a 200-day moving average of $189.10. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt to equity ratio of 0.51. Alexandria Real Estate Equities, Inc. has a 52-week low of $130.00 and a 52-week high of $224.95. The company has a market cap of $21.58 billion, a PE ratio of 47.18, a PEG ratio of 2.03 and a beta of 0.85.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The Real Estate Investment Trust reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.71). Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. The company had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. In the same period last year, the company earned $1.91 per share. The company’s revenue rose 28.2% year over year. On average, research analysts are forecasting that Alexandria Real Estate Equities, Inc. will post 8.4 EPS for the year to date.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30 will receive a dividend of $1.18. The ex-dividend date is Wednesday June 29th. That equates to a dividend of $4.72 on an annualized basis and a yield of 3.57%. This is an increase from Alexandria Real Estate Equities’ previous quarterly dividend of $1.15. Alexandria Real Estate Equities’ Dividend Payout Ratio (DPR) is 164.88%.
About Alexandria Real Estate Equities (get rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500®– Urban Office Investment Trust (“REIT”), is the first, longest-serving and pioneering owner, operator and developer with a unique focus on collaborative life science, technology and agtech campuses in locations of AAA innovation clusters with a total market capitalization of $31.9 billion as of December 31, 2020 and a North American asset base of 49.7 million square feet (“SF”)).
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