Park Place Capital Corp Acquires Shares of 1,633 Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Park Place Capital Corp acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,633 shares of the real estate investment trust’s stock, valued at approximately $194,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Alexandria Real Estate Equities by 14.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,833 shares of the real estate investment trust’s stock worth $36,331,000 after acquiring an additional 34,854 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Alexandria Real Estate Equities by 2.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock valued at $41,482,000 after purchasing an additional 9,187 shares during the period. Bluefin Capital Management LLC acquired a new stake in Alexandria Real Estate Equities in the 4th quarter valued at approximately $838,000. Norden Group LLC bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at $963,000. Finally, Vanguard Group Inc. boosted its position in Alexandria Real Estate Equities by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after acquiring an additional 156,643 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Price Performance

Shares of ARE opened at $113.80 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $19.90 billion, a price-to-earnings ratio of 106.36, a P/E/G ratio of 4.26 and a beta of 1.16. The business’s 50-day moving average is $118.07 and its 200-day moving average is $119.32. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $90.73 and a fifty-two week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $766.70 million during the quarter, compared to analysts’ expectations of $775.03 million. During the same quarter in the previous year, the company earned $2.24 EPS. The firm’s quarterly 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 fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $1.30 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.57%. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

Analysts Set New Price Targets

ARE has been the topic of a number of recent analyst reports. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $130.00 to $125.00 in a research note on Friday, September 13th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $151.00 to $126.00 in a report on Monday, July 29th. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Finally, Evercore ISI boosted their target price on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently 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.