AQR Capital Management LLC Boosts Stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

AQR Capital Management LLC boosted its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 160.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,663 shares of the real estate investment trust’s stock after acquiring an additional 25,056 shares during the quarter. AQR Capital Management LLC’s holdings in Alexandria Real Estate Equities were worth $4,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $1,226,000. Cubist Systematic Strategies LLC purchased a new position in Alexandria Real Estate Equities in the second quarter valued at about $7,178,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Alexandria Real Estate Equities by 53.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,167 shares of the real estate investment trust’s stock valued at $3,529,000 after acquiring an additional 10,457 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Alexandria Real Estate Equities during the 2nd quarter worth approximately $1,702,000. Finally, Bank of Montreal Can grew its holdings in shares of Alexandria Real Estate Equities by 38.2% in the 2nd quarter. Bank of Montreal Can now owns 312,790 shares of the real estate investment trust’s stock worth $36,434,000 after acquiring an additional 86,519 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ARE shares. Royal Bank of Canada lowered their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Finally, Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $151.00 to $126.00 in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Hold” and an average price target of $130.70.

Alexandria Real Estate Equities Price Performance

ARE stock opened at $114.90 on Friday. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 107.38, a price-to-earnings-growth ratio of 4.26 and a beta of 1.16. The stock’s fifty day simple moving average is $118.15 and its 200-day simple moving average is $119.47. Alexandria Real Estate Equities, Inc. has a 52-week low of $90.73 and a 52-week high of $135.45. 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 (NYSE:ARE) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $766.70 million for the quarter, compared to analyst estimates of $775.03 million. During the same period in the prior year, the company earned $2.24 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.53%. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.98%.

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.