Alexandria Real Estate Equities (ARE) Reaches New 1-Year High at $133.98

Alexandria Real Estate Equities Inc (NYSE:ARE) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $133.98 and last traded at $132.84, with a volume of 1379800 shares. The stock had previously closed at $131.89.

ARE has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Mizuho reaffirmed a “buy” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Bank of America raised their price target on shares of Alexandria Real Estate Equities from $129.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. National Bank Financial cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $20.00 to $18.00 in a report on Monday, October 23rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $20.37 price target on shares of Alexandria Real Estate Equities in a report on Monday, December 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $99.91.

The firm has a market capitalization of $12,713.27, a P/E ratio of 22.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.21 and a quick ratio of 0.21.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.96). The business had revenue of $285.60 million during the quarter, compared to analyst estimates of $286.11 million. Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. analysts expect that Alexandria Real Estate Equities Inc will post 6.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.90 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.86. Alexandria Real Estate Equities’s dividend payout ratio is presently 390.91%.

In related news, CEO Joel S. Marcus sold 25,000 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $118.99, for a total transaction of $2,974,750.00. Following the sale, the chief executive officer now owns 664,436 shares in the company, valued at $79,061,239.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joel S. Marcus sold 27,500 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $129.60, for a total transaction of $3,564,000.00. Following the sale, the chief executive officer now owns 623,936 shares in the company, valued at approximately $80,862,105.60. The disclosure for this sale can be found here. Insiders sold 87,250 shares of company stock worth $10,960,980 in the last quarter. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in Alexandria Real Estate Equities by 14.9% during the third quarter. Toronto Dominion Bank now owns 35,406 shares of the real estate investment trust’s stock valued at $4,211,000 after buying an additional 4,581 shares during the period. JPMorgan Chase & Co. grew its position in Alexandria Real Estate Equities by 14.7% during the second quarter. JPMorgan Chase & Co. now owns 1,997,637 shares of the real estate investment trust’s stock valued at $240,656,000 after buying an additional 255,378 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Alexandria Real Estate Equities by 13.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,766 shares of the real estate investment trust’s stock valued at $21,656,000 after buying an additional 21,974 shares during the period. Green Street Investors LLC acquired a new stake in Alexandria Real Estate Equities during the third quarter valued at $2,736,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Alexandria Real Estate Equities by 6.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,846 shares of the real estate investment trust’s stock valued at $5,282,000 after buying an additional 2,554 shares during the period.

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Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

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