Brown Brothers Harriman & Co. Sells 370 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Brown Brothers Harriman & Co. trimmed its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 55.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 294 shares of the real estate investment trust’s stock after selling 370 shares during the period. Brown Brothers Harriman & Co.’s holdings in Alexandria Real Estate Equities were worth $34,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in shares of Alexandria Real Estate Equities by 30.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,382 shares of the real estate investment trust’s stock valued at $3,086,000 after acquiring an additional 6,176 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Alexandria Real Estate Equities by 124.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 154,503 shares of the real estate investment trust’s stock worth $17,909,000 after purchasing an additional 85,600 shares during the period. American Century Companies Inc. raised its stake in shares of Alexandria Real Estate Equities by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 57,773 shares of the real estate investment trust’s stock worth $6,758,000 after purchasing an additional 7,246 shares during the period. Fore Capital LLC purchased a new position in shares of Alexandria Real Estate Equities in the 2nd quarter worth about $1,579,000. Finally, AGF Management Ltd. grew its position in Alexandria Real Estate Equities by 6.2% during the second quarter. AGF Management Ltd. now owns 22,962 shares of the real estate investment trust’s stock valued at $2,686,000 after buying an additional 1,336 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Trading Down 1.3 %

Shares of Alexandria Real Estate Equities stock opened at $122.22 on Friday. The company’s 50-day moving average price is $118.99 and its 200-day moving average price is $119.89. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities, Inc. has a 12-month low of $90.73 and a 12-month high of $135.45. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 114.22, a PEG ratio of 4.20 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). The firm had revenue of $766.70 million during the quarter, compared to the consensus estimate of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. On average, equities analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.25%. Alexandria Real Estate Equities’s payout ratio is currently 485.98%.

Analysts Set New Price Targets

A number of research firms have weighed in on ARE. Royal Bank of Canada dropped their target price on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Evercore ISI upped their price objective on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Bank of America cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Finally, Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $130.70.

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.