AGF Management Ltd. Acquires 1,336 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

AGF Management Ltd. grew its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,962 shares of the real estate investment trust’s stock after buying an additional 1,336 shares during the quarter. AGF Management Ltd.’s holdings in Alexandria Real Estate Equities were worth $2,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARE. EverSource Wealth Advisors LLC lifted its position in Alexandria Real Estate Equities by 275.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of Alexandria Real Estate Equities by 132.8% in the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Rothschild Investment LLC bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $33,000. Finally, Riverview Trust Co bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at about $37,000. 96.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their target price for the company from $151.00 to $126.00 in a report on Monday, July 29th. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $130.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and a consensus price target of $131.33.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE opened at $121.89 on Friday. The company’s 50 day moving average price is $118.43 and its two-hundred day moving average price is $119.84. Alexandria Real Estate Equities, Inc. has a 12-month low of $90.73 and a 12-month high of $135.45. The firm has a market cap of $21.32 billion, a PE ratio of 113.92, a PEG ratio of 4.05 and a beta of 1.16. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $766.70 million for the quarter, compared to analyst estimates of $775.03 million. During the same quarter in the previous year, the company earned $2.24 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.27%. Alexandria Real Estate Equities’s payout ratio is presently 485.98%.

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.