Lazard Asset Management LLC lowered its stake in Alexandria Real Estate Equities Inc (NYSE:ARE) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,767 shares of the real estate investment trust’s stock after selling 14,006 shares during the quarter. Lazard Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $21,350,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ARE. Citigroup Inc. grew its stake in Alexandria Real Estate Equities by 583.3% during the 4th quarter. Citigroup Inc. now owns 1,082,030 shares of the real estate investment trust’s stock worth $124,693,000 after buying an additional 923,675 shares during the last quarter. Norges Bank bought a new stake in Alexandria Real Estate Equities during the 4th quarter valued at approximately $99,599,000. Lasalle Investment Management Securities LLC boosted its stake in Alexandria Real Estate Equities by 981.6% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 918,415 shares of the real estate investment trust’s stock valued at $105,838,000 after purchasing an additional 833,504 shares during the period. Vanguard Group Inc boosted its stake in Alexandria Real Estate Equities by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 16,605,056 shares of the real estate investment trust’s stock valued at $2,088,750,000 after purchasing an additional 377,569 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Alexandria Real Estate Equities by 3.5% in the 4th quarter. BlackRock Inc. now owns 10,965,956 shares of the real estate investment trust’s stock worth $1,263,717,000 after acquiring an additional 369,086 shares during the period. 98.63% of the stock is currently owned by institutional investors.
In related news, Director Richard Hunter Klein sold 1,103 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $142.50, for a total transaction of $157,177.50. Following the completion of the sale, the director now directly owns 10,617 shares of the company’s stock, valued at approximately $1,512,922.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Real Estate Equitie Alexandria purchased 975,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $10.00 per share, with a total value of $9,750,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 53,830 shares of company stock valued at $7,637,557. 1.43% of the stock is currently owned by insiders.
Shares of ARE opened at $152.76 on Friday. Alexandria Real Estate Equities Inc has a 1 year low of $109.04 and a 1 year high of $152.81. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $17.17 billion, a PE ratio of 23.15, a P/E/G ratio of 5.06 and a beta of 0.82.
Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, April 29th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.68 by ($0.57). Alexandria Real Estate Equities had a return on equity of 4.91% and a net margin of 27.29%. The company had revenue of $358.80 million during the quarter, compared to analyst estimates of $356.93 million. During the same period in the previous year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that Alexandria Real Estate Equities Inc will post 6.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $1.00 dividend. The ex-dividend date is Thursday, June 27th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.62%. Alexandria Real Estate Equities’s dividend payout ratio is presently 58.79%.
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Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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 $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.
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