Hartford Investment Management Co. Reduces Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Hartford Investment Management Co. cut its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,694 shares of the real estate investment trust’s stock after selling 341 shares during the period. Hartford Investment Management Co.’s holdings in Alexandria Real Estate Equities were worth $1,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. M&G Plc purchased a new stake in shares of Alexandria Real Estate Equities during the 1st quarter valued at approximately $204,001,000. Russell Investments Group Ltd. raised its position in Alexandria Real Estate Equities by 153.0% in the first quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock valued at $100,205,000 after purchasing an additional 470,076 shares during the period. DAVENPORT & Co LLC acquired a new position in Alexandria Real Estate Equities in the first quarter valued at about $55,075,000. Raymond James & Associates increased its position in shares of Alexandria Real Estate Equities by 501.1% during the third quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust’s stock valued at $34,539,000 after acquiring an additional 242,466 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after acquiring an additional 156,643 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI decreased their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price objective for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. Wedbush cut their target price on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday. Finally, Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $131.22.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $113.03 on Friday. The company has a market cap of $19.77 billion, a P/E ratio of 106.50, a PEG ratio of 3.99 and a beta of 1.16. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $119.21 and a 200 day moving average price of $118.77. Alexandria Real Estate Equities, Inc. has a 12 month low of $90.73 and a 12 month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The business had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. Sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 485.98%.

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.