Lazard Asset Management LLC Buys New Position in Alexandria Real Estate Equities, Inc. $ARE

Lazard Asset Management LLC bought a new stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 291,687 shares of the real estate investment trust’s stock, valued at approximately $13,540,000. Lazard Asset Management LLC owned about 0.17% of Alexandria Real Estate Equities at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ARE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alexandria Real Estate Equities by 102.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,245 shares of the real estate investment trust’s stock worth $2,184,000 after purchasing an additional 11,762 shares in the last quarter. NewEdge Advisors LLC lifted its position in Alexandria Real Estate Equities by 4,261.1% during the first quarter. NewEdge Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 3,068 shares in the last quarter. Empowered Funds LLC grew its holdings in Alexandria Real Estate Equities by 4.8% during the first quarter. Empowered Funds LLC now owns 6,455 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 296 shares during the period. Woodline Partners LP grew its holdings in Alexandria Real Estate Equities by 39.9% during the first quarter. Woodline Partners LP now owns 13,015 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 3,714 shares during the period. Finally, Focus Partners Wealth increased its position in Alexandria Real Estate Equities by 171.5% in the first quarter. Focus Partners Wealth now owns 6,591 shares of the real estate investment trust’s stock worth $610,000 after buying an additional 4,163 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors.

Alexandria Real Estate Equities Trading Down 0.3%

Shares of ARE opened at $53.86 on Thursday. The firm has a market cap of $9.39 billion, a P/E ratio of -8.59, a price-to-earnings-growth ratio of 6.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.20 and a quick ratio of 0.20. Alexandria Real Estate Equities, Inc. has a 1 year low of $39.41 and a 1 year high of $88.24. The company has a 50 day simple moving average of $50.90 and a two-hundred day simple moving average of $50.40.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, April 27th. The real estate investment trust reported $1.73 EPS for the quarter, hitting the consensus estimate of $1.73. The firm had revenue of $671.02 million for the quarter, compared to the consensus estimate of $684.78 million. Alexandria Real Estate Equities had a negative net margin of 36.03% and a negative return on equity of 5.21%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 earnings per share. On average, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 6.36 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.88 dividend on an annualized basis and a yield of 5.3%. Alexandria Real Estate Equities’s dividend payout ratio is presently -45.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $53.00 price objective on shares of Alexandria Real Estate Equities in a research report on Thursday, June 11th. BNP Paribas Exane increased their target price on shares of Alexandria Real Estate Equities from $44.00 to $45.00 and gave the stock an “underperform” rating in a report on Wednesday, July 1st. Jefferies Financial Group decreased their target price on shares of Alexandria Real Estate Equities from $57.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $52.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $51.08.

Insider Buying and Selling

In other Alexandria Real Estate Equities news, CFO Marc E. Binda sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $54.00, for a total value of $108,000.00. Following the completion of the sale, the chief financial officer directly owned 188,264 shares in the company, valued at $10,166,256. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Joel S. Marcus purchased 7,500 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $42.72 per share, for a total transaction of $320,400.00. Following the completion of the acquisition, the chairman directly owned 587,724 shares of the company’s stock, valued at approximately $25,107,569.28. The trade was a 1.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.35% of the company’s stock.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company’s properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.