Legacy Wealth Asset Management LLC Has $735,000 Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Wealth Asset Management LLC boosted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 176.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,705 shares of the real estate investment trust’s stock after buying an additional 3,640 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $735,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its holdings in Alexandria Real Estate Equities by 20.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,131 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 537 shares during the period. Advisor Resource Council bought a new position in shares of Alexandria Real Estate Equities during the first quarter worth about $253,000. Taylor Frigon Capital Management LLC lifted its stake in shares of Alexandria Real Estate Equities by 0.7% in the first quarter. Taylor Frigon Capital Management LLC now owns 16,234 shares of the real estate investment trust’s stock worth $2,093,000 after acquiring an additional 112 shares during the period. Abundance Wealth Counselors boosted its holdings in Alexandria Real Estate Equities by 18.0% in the first quarter. Abundance Wealth Counselors now owns 12,972 shares of the real estate investment trust’s stock valued at $1,672,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in Alexandria Real Estate Equities during the 1st quarter valued at approximately $963,000. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Performance

ARE opened at $117.09 on Friday. Alexandria Real Estate Equities, Inc. has a 1-year low of $90.73 and a 1-year high of $135.45. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 109.43, a PEG ratio of 2.93 and a beta of 1.15. The company’s fifty day moving average price is $118.11 and its two-hundred day moving average price is $121.61. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.54.

Alexandria Real Estate Equities Increases Dividend

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

Insider Activity at Alexandria Real Estate Equities

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ARE shares. Wedbush reiterated 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. Evercore ISI cut their price target on Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.75.

About Alexandria Real Estate Equities

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.