Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Alexandria Real Estate Equities, Inc. $ARE

Sumitomo Mitsui Trust Group Inc. boosted its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 26.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,183,811 shares of the real estate investment trust’s stock after acquiring an additional 244,975 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alexandria Real Estate Equities were worth $85,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tsfg LLC purchased a new stake in Alexandria Real Estate Equities in the first quarter valued at $30,000. Sound Income Strategies LLC acquired a new position in Alexandria Real Estate Equities in the second quarter valued at $25,000. Avalon Trust Co acquired a new position in Alexandria Real Estate Equities in the first quarter valued at $32,000. TruNorth Capital Management LLC acquired a new position in Alexandria Real Estate Equities in the first quarter valued at $34,000. Finally, Cromwell Holdings LLC acquired a new position in Alexandria Real Estate Equities in the first quarter valued at $36,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Trading Up 0.7%

Shares of Alexandria Real Estate Equities stock opened at $77.48 on Monday. Alexandria Real Estate Equities, Inc. has a 52-week low of $67.37 and a 52-week high of $116.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $81.08 and its 200-day simple moving average is $76.92. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of -595.96, a price-to-earnings-growth ratio of 6.50 and a beta of 1.31.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 6.8%. The ex-dividend date was Tuesday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is presently -4,061.54%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ARE shares. Evercore ISI upgraded shares of Alexandria Real Estate Equities from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $91.00 to $104.00 in a research note on Monday, September 15th. Cantor Fitzgerald dropped their price objective on shares of Alexandria Real Estate Equities from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets started coverage on shares of Alexandria Real Estate Equities in a research note on Tuesday, September 23rd. They issued an “outperform” rating and a $100.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on shares of Alexandria Real Estate Equities from $100.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group assumed coverage on shares of Alexandria Real Estate Equities in a research note on Monday, October 6th. They issued a “hold” rating and a $80.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus target price of $95.87.

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.