Alexandria Real Estate Equities (ARE) Reaches New 1-Year High at $144.46

Alexandria Real Estate Equities Inc (NYSE:ARE) reached a new 52-week high during trading on Monday . The company traded as high as $144.46 and last traded at $143.64, with a volume of 8127 shares. The stock had previously closed at $143.97.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Monday, March 4th. Barclays cut shares of Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $130.00 to $136.00 in a research report on Thursday. ValuEngine upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Canaccord Genuity reaffirmed an “average” rating and issued a $25.00 target price on shares of Alexandria Real Estate Equities in a research report on Thursday, March 7th. Finally, Mitsubishi UFJ Financial Group upped their price target on Alexandria Real Estate Equities to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $111.38.

The company has a market cap of $16.23 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 4.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.29 and a current ratio of 0.29.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, February 4th. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.99). The business had revenue of $340.50 million during the quarter, compared to the consensus estimate of $348.01 million. Alexandria Real Estate Equities had a net margin of 28.57% and a return on equity of 5.28%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.53 earnings per share. Equities analysts forecast that Alexandria Real Estate Equities Inc will post 6.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.70%. Alexandria Real Estate Equities’s dividend payout ratio is presently 58.79%.

In other news, insider Joel S. Marcus sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $130.01, for a total value of $1,300,100.00. Following the completion of the sale, the insider now directly owns 557,312 shares of the company’s stock, valued at $72,456,133.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Peter M. Moglia sold 3,721 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $141.44, for a total value of $526,298.24. Following the completion of the sale, the chief executive officer now directly owns 179,133 shares of the company’s stock, valued at $25,336,571.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,824 shares of company stock worth $16,878,086. 1.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. raised its holdings in shares of Alexandria Real Estate Equities by 2.5% during the 4th quarter. Sumitomo Life Insurance Co. now owns 11,723 shares of the real estate investment trust’s stock worth $1,351,000 after acquiring an additional 282 shares during the period. New England Research & Management Inc. acquired a new position in Alexandria Real Estate Equities during the fourth quarter valued at $833,000. Fifth Third Bancorp lifted its stake in Alexandria Real Estate Equities by 2.6% in the 3rd quarter. Fifth Third Bancorp now owns 27,955 shares of the real estate investment trust’s stock worth $3,516,000 after acquiring an additional 710 shares in the last quarter. Boston Advisors LLC boosted its position in Alexandria Real Estate Equities by 9.8% during the 4th quarter. Boston Advisors LLC now owns 23,414 shares of the real estate investment trust’s stock worth $2,698,000 after acquiring an additional 2,094 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Alexandria Real Estate Equities by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 742,207 shares of the real estate investment trust’s stock worth $93,362,000 after acquiring an additional 98,882 shares during the period. 99.14% of the stock is owned by institutional investors and hedge funds.

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About Alexandria Real Estate Equities (NYSE:ARE)

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.4 billion and an asset base in North America of 33.1 million square feet ("SF") as of December 31, 2018.

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