Canada Pension Plan Investment Board Has $476.46 Million Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Canada Pension Plan Investment Board raised its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,073,312 shares of the real estate investment trust’s stock after acquiring an additional 35,216 shares during the quarter. Canada Pension Plan Investment Board owned approximately 2.33% of Alexandria Real Estate Equities worth $476,455,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. M&G Plc acquired a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth about $204,001,000. Russell Investments Group Ltd. lifted its stake in shares of Alexandria Real Estate Equities by 153.0% during the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after buying an additional 470,076 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth about $55,075,000. First Financial Bankshares Inc acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth about $31,260,000. Finally, Presima Securities ULC lifted its stake in shares of Alexandria Real Estate Equities by 4,714.5% during the 4th quarter. Presima Securities ULC now owns 226,281 shares of the real estate investment trust’s stock worth $28,686,000 after buying an additional 221,581 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ARE shares. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the stock from $136.00 to $127.00 in a research note on Friday, August 2nd. Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Royal Bank of Canada lowered their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Citigroup lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $130.70.

Alexandria Real Estate Equities Price Performance

ARE stock opened at $122.22 on Friday. The company has a quick ratio of 0.23, a current 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 firm has a market cap of $21.37 billion, a P/E ratio of 114.22, a P/E/G ratio of 4.20 and a beta of 1.16. The company’s 50-day moving average price is $118.99 and its two-hundred day moving average price is $119.89.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($2.09). The company had revenue of $766.70 million for 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 company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. On average, analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.

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.