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Creative Planning cut its equity position in Alexandria Real Estate Equities (NYSE: ARE – Get Rating) by 13.8% in the third quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. Institutional investors held 4,988 shares of the real estate investment trust after selling 796 shares during the period. Creative Planning’s stake in Alexandria Real Estate Equities was valued at $699,000 as of his latest SEC filing.
Several other hedge funds have also recently bought and sold shares in the company. Principal Financial Group Inc. increased its stake in Alexandria Real Estate Equities by 16.6% in the second quarter. Principal Financial Group now owns 5,982,503 real estate investment trust shares valued at $867,648,000 after acquiring an additional 852,420 shares in the previous quarter. Parnassus Investments LLC increased its stake in Alexandria Real Estate Equities by 9.5% in the second quarter. Parnassus Investments LLC now owns 3,787,899 real estate investment trust shares valued at $549,359,000 after acquiring an additional 328,490 shares in the previous quarter. Victory Capital Management Inc. increased its stake in Alexandria Real Estate Equities by 26.2% in the third quarter. Victory Capital Management Inc. owns 3,090,755 real estate investment trust shares valued at $433,293,000 after acquiring an additional 642,310 shares in the previous quarter. Northern Trust Corporation increased its stake in Alexandria Real Estate Equity by 2.1% in the first quarter. Northern Trust Corporation owns 2,291,076 real estate investment trust shares valued at $461,079,000 after acquiring an additional 46,933 shares in the previous quarter. Finally, Legal & General Group Plc increased its stake in Alexandria Real Estate Equities by 8.7% in the second quarter. Legal & General Group Plc now owns 2,244,067 real estate investment trust shares valued at $325,459,000 after purchasing an additional 178,951 shares in the previous quarter. Hedge funds and other institutional investors own 89.81% of the company’s shares.
Alexandria real estate stocks rise 2.1%
NYSE:ARE opened Wednesday at $160.74. The company has a 50-day moving average of $150.95 and a 200-day moving average of $150.04. Alexandria Real Estate Equities, Inc. has a 52-week low of $126.74 and a 52-week high of $206.85. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt to equity ratio of 0.50. The company has a market capitalization of $26.38 billion, a P/E ratio of 48.86, a P/E/G ratio of 2.33 and a beta of 0.91.
Alexandria Real Estate Equities (NYSE: ARE – Get Rating) reported its final quarterly results on Tuesday, January 31. The real estate investment trust reported his EPS of $0.31 for the quarter, missing analyst consensus expectations of $2.13 ($1.82). Alexandria Real Estate Equity posted a net profit margin of 21.73% and a return on equity of 3.03%. The company’s revenue for the quarter was $670.28 million, compared to consensus expectations of $674.21 million. His earnings per share for the company in the same period last year were $1.97. The company’s quarterly revenue increased by 16.2% compared to the same quarter last year. On average, research analysts forecast Alexandria Real Estate Equities, Inc. to book earnings per share of 8.41 this year.
Alexandria Real Estate Stock Increases Dividend
The company recently announced a quarterly dividend, which was paid out on Friday, January 13th. A dividend of $1.21 per share was issued to investors of record on Friday, December 30. This is a positive change from Alexandria Real Estate Equity’s previous quarterly dividend of $1.18. This represents his $4.84 dividend and his 3.01% yield on an annual basis. The ex-dividend date was Thursday, December 29. Alexandria Real Estate Equities currently has a payout ratio of 147.11%.
Analyst Rating Change
Many equity analysts have commented on ARE stock. JMP Securities reissued a ‘buy’ rating and set a price target of $180.00 for Alexandria Real Estate Equities in his research notes on Thursday, October 6. BTIG Research lowered its price target for Alexandria Real Estate Equities from $233.00 to $186.00 in its research notes on Wednesday, October 19th. Robert W. Baird raised his stock price target for Alexandria Real Estate Equities from his $151.00 to his $162.00 in a research note on Friday, Dec. 2. Royal Bank of Canada lowered its price target for Alexandria Real Estate Equity to $200.00 from his $220.00 in a research note on Thursday, Nov. 10, setting the company’s rating to “outperform.” Finally, Evercore ISI lowered its price target for Alexandria Real Estate Equities to $168.00 in its research notes on Friday, December 2nd. Two Research-his analysts rated the stock with a hold rating, and four assigned the company a buy-his rating. According to MarketBeat.com, Alexandria Real Estate Equities’ current average rating is “moderate buy” with a consensus target price of $173.43.
Insider activity at Alexandria Real Estate Equity
In other news from Alexandria Real Estate Equities, insider Vincent Ciruzzi sold 6,998 shares in the company in a transaction on Thursday, December 15th. The shares were sold at an average price of $150.76, giving him a total of $1,055,018.48. Following the closing of the transaction, the insider now owns directly his 39,806 shares in the company, valued at approximately $6,001,152.56. The sale is disclosed in documents filed with the Securities and Exchange Commission, which can be accessed on his website at the SEC. In other news from Alexandria Real Estate Equities, his insider, Vincent Ciruzzi, sold 6,998 shares of the company’s stock in his Thursday, Dec. 15 transaction. The shares were sold at an average price of $150.76, giving him a total of $1,055,018.48. Following the closing of the transaction, the insider now owns directly his 39,806 shares in the company, valued at approximately $6,001,152.56. The sale is disclosed in documents filed with the Securities and Exchange Commission, which can be accessed on his website at the SEC. Also, EVP Marc E. Binda sold 3,316 shares of the company in a transaction on Thursday, December 1. The shares sold for an average of $154.00 and the total trading value he had was $510,664.00. Following the closing of the transaction, the Executive Vice President now owns 49,413 shares of the Company’s stock valued at $7,609,602. Please see here for the disclosure of this sale. Insiders say that in the past three months he has sold 34,253 shares of company stock worth $5,179,946. His 0.96% of shares are owned by insiders.
Alexandria Real Estate Equity Profile
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Alexandria Real Estate Equities, Inc. is an urban office real estate investment trust. The company owns, operates, develops and redevelops life sciences and technology assets. It also provides space for lease to life sciences and technology industries, primarily located at AAA’s Urban Innovation Cluster locations.
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Want to know what other hedge funds hold ARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating).
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