PNC Financial Services Group Inc. Has $3.96 Million Stock Position in Alexandria Real Estate Equities, Inc. $ARE

PNC Financial Services Group Inc. raised its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 129.8% during the first quarter, HoldingsChannel.com reports. The firm owned 85,293 shares of the real estate investment trust’s stock after buying an additional 48,179 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alexandria Real Estate Equities were worth $3,959,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alexandria Real Estate Equities by 102.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,245 shares of the real estate investment trust’s stock valued at $2,184,000 after buying an additional 11,762 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Alexandria Real Estate Equities by 4,261.1% in the first quarter. NewEdge Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 3,068 shares during the last quarter. Empowered Funds LLC raised its position in Alexandria Real Estate Equities by 4.8% during the first quarter. Empowered Funds LLC now owns 6,455 shares of the real estate investment trust’s stock valued at $597,000 after acquiring an additional 296 shares in the last quarter. Woodline Partners LP raised its position in Alexandria Real Estate Equities by 39.9% during the first quarter. Woodline Partners LP now owns 13,015 shares of the real estate investment trust’s stock valued at $1,204,000 after acquiring an additional 3,714 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in Alexandria Real Estate Equities by 171.5% in the first quarter. Focus Partners Wealth now owns 6,591 shares of the real estate investment trust’s stock valued at $610,000 after acquiring an additional 4,163 shares during the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Gregory Calvin Thomas purchased 3,500 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was bought at an average cost of $41.00 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the executive vice president directly owned 33,024 shares of the company’s stock, valued at approximately $1,353,984. The trade was a 11.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Joel S. Marcus purchased 7,500 shares of the stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average cost of $42.72 per share, for a total transaction of $320,400.00. Following the completion of the transaction, the chairman owned 587,724 shares of the company’s stock, valued at $25,107,569.28. The trade was a 1.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ARE. The Goldman Sachs Group reissued a “neutral” rating and issued a $52.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, May 19th. Cantor Fitzgerald cut their price target on shares of Alexandria Real Estate Equities from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of Alexandria Real Estate Equities from $60.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $51.08.

Alexandria Real Estate Equities Trading Up 1.1%

Shares of ARE stock opened at $51.49 on Tuesday. Alexandria Real Estate Equities, Inc. has a 12 month low of $39.41 and a 12 month high of $88.24. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $50.61 and its two-hundred day moving average is $50.38. The company has a market cap of $8.97 billion, a PE ratio of -8.21, a price-to-earnings-growth ratio of 6.21 and a beta of 1.17.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $1.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.73. Alexandria Real Estate Equities had a negative net margin of 36.03% and a negative return on equity of 5.21%. The business had revenue of $671.02 million during the quarter, compared to analysts’ expectations of $684.78 million. During the same period in the previous year, the company earned $2.30 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities analysts predict that Alexandria Real Estate Equities, Inc. will post 6.36 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.72 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.88 dividend on an annualized basis and a yield of 5.6%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently -45.93%.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company’s properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.