AIA Group Ltd Acquires Shares of 3,300 Alexandria Real Estate Equities, Inc. (NYSE:ARE)

AIA Group Ltd acquired a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) during the first quarter, HoldingsChannel.com reports. The firm acquired 3,300 shares of the real estate investment trust’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARE. Colonial Trust Co SC raised its position in Alexandria Real Estate Equities by 514.3% during the fourth quarter. Colonial Trust Co SC now owns 301 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 252 shares during the period. Tsfg LLC purchased a new stake in Alexandria Real Estate Equities during the first quarter valued at approximately $30,000. Avalon Trust Co purchased a new stake in Alexandria Real Estate Equities during the first quarter valued at approximately $32,000. TruNorth Capital Management LLC purchased a new stake in Alexandria Real Estate Equities during the first quarter valued at approximately $34,000. Finally, Cromwell Holdings LLC purchased a new stake in Alexandria Real Estate Equities during the first quarter valued at approximately $36,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Trading Up 2.5%

ARE opened at $73.66 on Wednesday. The stock’s fifty day moving average is $75.54 and its two-hundred day moving average is $82.42. The company has a market capitalization of $12.74 billion, a P/E ratio of -566.62, a PEG ratio of 6.05 and a beta of 1.24. Alexandria Real Estate Equities, Inc. has a 52 week low of $67.37 and a 52 week high of $125.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.04. The business had revenue of $737.28 million for the quarter, compared to analysts’ expectations of $748.02 million. Alexandria Real Estate Equities had a negative return on equity of 0.05% and a negative net margin of 0.33%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.36 EPS. Analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $1.32 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 7.2%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently -4,061.54%.

Wall Street Analysts Forecast Growth

ARE has been the topic of several recent analyst reports. BNP Paribas Exane reduced their price target on Alexandria Real Estate Equities from $111.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price target on Alexandria Real Estate Equities from $117.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, May 20th. Mizuho reduced their price target on Alexandria Real Estate Equities from $121.00 to $91.00 in a report on Thursday, June 12th. Baird R W reduced their price target on Alexandria Real Estate Equities from $129.00 to $102.00 in a report on Thursday, June 12th. Finally, Citigroup reduced their price target on Alexandria Real Estate Equities from $110.00 to $74.00 in a report on Monday, June 2nd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average target price of $97.17.

Alexandria Real Estate Equities 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.