Raymond James & Associates Acquires 242,466 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Raymond James & Associates raised its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 501.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,857 shares of the real estate investment trust’s stock after acquiring an additional 242,466 shares during the quarter. Raymond James & Associates owned about 0.17% of Alexandria Real Estate Equities worth $34,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at $30,000. UMB Bank n.a. raised its holdings in Alexandria Real Estate Equities by 132.8% during the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC bought a new stake in Alexandria Real Estate Equities during the 2nd quarter valued at $33,000. Riverview Trust Co bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at $37,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Alexandria Real Estate Equities in the second quarter worth $43,000. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $119.90 on Thursday. The company has a 50-day simple moving average of $119.18 and a two-hundred day simple moving average of $118.79. 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 $20.97 billion, a price-to-earnings ratio of 112.06, a PEG ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same quarter in the previous year, the company earned $2.26 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a yield of 4.34%. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARE. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Evercore ISI decreased their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Wedbush decreased their price target on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $131.78.

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.