Alexandria Real Estate Equities (NYSE:ARE) Reaches New 52-Week High at $153.94

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Alexandria Real Estate Equities Inc (NYSE:ARE) hit a new 52-week high on Thursday . The stock traded as high as $153.94 and last traded at $152.90, with a volume of 6443 shares changing hands. The stock had previously closed at $152.33.

Several brokerages have recently weighed in on ARE. Robert W. Baird set a $152.00 price objective on Alexandria Real Estate Equities and gave the company a “hold” rating in a report on Wednesday, August 21st. DA Davidson raised their price objective on Alexandria Real Estate Equities to $166.00 and gave the company a “buy” rating in a report on Friday, August 16th. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Citigroup raised their price objective on Alexandria Real Estate Equities from $157.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, ValuEngine cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus price target of $115.36.

The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.76. The firm has a market cap of $17.30 billion, a P/E ratio of 23.27, a PEG ratio of 4.58 and a beta of 0.74. The business has a fifty day moving average of $147.30 and a 200 day moving average of $144.25.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.04). Alexandria Real Estate Equities had a return on equity of 5.00% and a net margin of 28.05%. The business had revenue of $373.90 million for the quarter, compared to the consensus estimate of $366.81 million. During the same quarter in the previous year, the business posted $1.64 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts expect that Alexandria Real Estate Equities Inc will post 6.98 EPS for the current year.

The company also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 27th. Alexandria Real Estate Equities’s dividend payout ratio is presently 60.61%.

In other news, insider Thomas J. Andrews sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $145.06, for a total value of $1,450,600.00. Following the completion of the sale, the insider now directly owns 133,441 shares in the company, valued at $19,356,951.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James P. Cain sold 450 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $139.82, for a total transaction of $62,919.00. Following the completion of the sale, the director now owns 3,506 shares of the company’s stock, valued at $490,208.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,250 shares of company stock valued at $12,447,290. Corporate insiders own 1.43% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Alexandria Real Estate Equities by 2.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,640 shares of the real estate investment trust’s stock valued at $9,261,000 after buying an additional 1,481 shares in the last quarter. Hancock Whitney Corp acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter valued at approximately $206,000. Rehmann Capital Advisory Group raised its position in shares of Alexandria Real Estate Equities by 21.7% in the second quarter. Rehmann Capital Advisory Group now owns 717 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 128 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Alexandria Real Estate Equities by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 56,695 shares of the real estate investment trust’s stock valued at $7,999,000 after buying an additional 824 shares in the last quarter. Finally, Cresset Asset Management LLC raised its position in shares of Alexandria Real Estate Equities by 3,185.1% in the second quarter. Cresset Asset Management LLC now owns 8,180 shares of the real estate investment trust’s stock valued at $1,154,000 after buying an additional 7,931 shares in the last quarter. Institutional investors own 98.65% of the company’s stock.

About Alexandria Real Estate Equities (NYSE:ARE)

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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