Legacy Wealth Asset Management LLC Grows Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Wealth Asset Management LLC increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 176.3% in the first quarter, Holdings Channel reports. The institutional investor owned 5,705 shares of the real estate investment trust’s stock after acquiring an additional 3,640 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth approximately $2,086,085,000. APG Asset Management US Inc. grew its holdings in shares of Alexandria Real Estate Equities by 0.5% in the fourth quarter. APG Asset Management US Inc. now owns 7,216,689 shares of the real estate investment trust’s stock worth $914,860,000 after purchasing an additional 39,243 shares during the last quarter. Victory Capital Management Inc. increased its stake in Alexandria Real Estate Equities by 0.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,747,866 shares of the real estate investment trust’s stock worth $475,117,000 after buying an additional 32,122 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Alexandria Real Estate Equities by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,391,396 shares of the real estate investment trust’s stock valued at $303,166,000 after acquiring an additional 22,105 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Alexandria Real Estate Equities by 3.4% in the third quarter. Legal & General Group Plc now owns 2,316,770 shares of the real estate investment trust’s stock valued at $231,909,000 after purchasing an additional 77,012 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Price Performance

ARE opened at $117.09 on Friday. The business’s 50-day moving average is $118.11 and its two-hundred day moving average is $121.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.30. Alexandria Real Estate Equities, Inc. has a 1 year low of $90.73 and a 1 year high of $135.45. The firm has a market capitalization of $20.48 billion, a PE ratio of 109.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.30 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, June 28th. Alexandria Real Estate Equities’s payout ratio is currently 485.99%.

Insider Activity

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at approximately $25,281,374.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ARE shares. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Evercore ISI cut their price target on Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities has an average rating of “Moderate Buy” and a consensus target price of $136.75.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.