State of Michigan Retirement System Has $5.56 Million Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

State of Michigan Retirement System increased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,118 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Alexandria Real Estate Equities were worth $5,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fulton Bank N.A. increased its position in shares of Alexandria Real Estate Equities by 4.2% in the first quarter. Fulton Bank N.A. now owns 2,074 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 83 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Alexandria Real Estate Equities by 29.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 376 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 85 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its position in Alexandria Real Estate Equities by 1.3% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 8,606 shares of the real estate investment trust’s stock worth $1,079,000 after purchasing an additional 109 shares during the period. Thompson Investment Management Inc. raised its position in shares of Alexandria Real Estate Equities by 0.4% in the first quarter. Thompson Investment Management Inc. now owns 29,390 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 128 shares during the period. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities by 340.9% during the 4th quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 150 shares during the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the transaction, the insider now owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $117.10 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30. Alexandria Real Estate Equities, Inc. has a 52 week low of $90.73 and a 52 week high of $135.45. The stock has a market capitalization of $20.48 billion, a P/E ratio of 109.44, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The stock has a fifty day moving average of $118.21 and a 200-day moving average of $121.77.

Alexandria Real Estate Equities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $1.30 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. Alexandria Real Estate Equities’s dividend payout ratio is 485.99%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARE. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 24th. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Evercore ISI lowered their price objective on Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.75.

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.