RMB Capital Management LLC cut its stake in Alexandria Real Estate Equities Inc (NYSE:ARE) by 16.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,780 shares of the real estate investment trust’s stock after selling 7,605 shares during the quarter. RMB Capital Management LLC’s holdings in Alexandria Real Estate Equities were worth $4,718,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. We Are One Seven LLC bought a new position in Alexandria Real Estate Equities in the 4th quarter worth $148,000. Whittier Trust Co. of Nevada Inc. increased its stake in Alexandria Real Estate Equities by 54.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,198 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 421 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in Alexandria Real Estate Equities during the 4th quarter valued at about $203,000. Fiduciary Trust Co. bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at about $227,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Alexandria Real Estate Equities by 1,552.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,752 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 1,646 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.
A number of analysts have recently issued reports on the stock. TheStreet raised shares of Alexandria Real Estate Equities from a “c+” rating to a “b” rating in a report on Monday, April 30th. ValuEngine downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a report on Monday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alexandria Real Estate Equities from $130.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.92.
Shares of Alexandria Real Estate Equities traded up $0.18, hitting $127.84, on Friday, MarketBeat Ratings reports. 1,465,053 shares of the company traded hands, compared to its average volume of 727,231. Alexandria Real Estate Equities Inc has a 52 week low of $114.00 and a 52 week high of $134.37. The stock has a market cap of $13.15 billion, a P/E ratio of 21.24, a PEG ratio of 3.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.34 and a quick ratio of 0.34.
Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, April 30th. The real estate investment trust reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.27). The business had revenue of $320.10 million during the quarter, compared to the consensus estimate of $317.63 million. Alexandria Real Estate Equities had a return on equity of 4.26% and a net margin of 22.13%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. equities analysts expect that Alexandria Real Estate Equities Inc will post 6.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.91%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, June 28th. Alexandria Real Estate Equities’s payout ratio is presently 59.80%.
In related news, insider Joel S. Marcus sold 25,000 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $127.49, for a total value of $3,187,250.00. Following the completion of the sale, the insider now directly owns 656,755 shares of the company’s stock, valued at $83,729,694.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter M. Moglia sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $122.14, for a total transaction of $610,700.00. Following the completion of the sale, the chief executive officer now directly owns 119,117 shares of the company’s stock, valued at $14,548,950.38. The disclosure for this sale can be found here. Insiders have sold 97,285 shares of company stock valued at $12,433,970 over the last ninety days. 1.41% of the stock is owned by insiders.
About Alexandria Real Estate Equities
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 $17.9 billion and an asset base in North America of 30.2 million SF as of March 31, 2018.
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