Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,701,371 shares of the real estate investment trust’s stock after selling 12,068 shares during the period. Legal & General Group Plc owned 1.54% of Alexandria Real Estate Equities worth $315,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Alexandria Real Estate Equities during the second quarter worth approximately $783,000. MBB Public Markets I LLC increased its stake in Alexandria Real Estate Equities by 88.0% in the 2nd quarter. MBB Public Markets I LLC now owns 186,074 shares of the real estate investment trust’s stock valued at $21,765,000 after buying an additional 87,090 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in Alexandria Real Estate Equities during the 2nd quarter worth $398,000. Earnest Partners LLC lifted its stake in shares of Alexandria Real Estate Equities by 7.9% in the 2nd quarter. Earnest Partners LLC now owns 464,250 shares of the real estate investment trust’s stock worth $54,303,000 after acquiring an additional 34,047 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of Alexandria Real Estate Equities by 227.6% in the second quarter. APG Asset Management N.V. now owns 17,847 shares of the real estate investment trust’s stock valued at $1,948,000 after acquiring an additional 12,400 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $121.02 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $118.46 and its 200 day simple moving average is $119.73. Alexandria Real Estate Equities, Inc. has a 52 week low of $90.73 and a 52 week high of $135.45. The firm has a market capitalization of $21.16 billion, a PE ratio of 113.10, a P/E/G ratio of 4.26 and a beta of 1.16.

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

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $1.30 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.30%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 485.98%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Royal Bank of Canada decreased their price target on 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. Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Finally, Evercore ISI boosted their target price on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $130.70.

About Alexandria Real Estate Equities

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.