Envestnet Asset Management Inc. Boosts Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Posted by MarketBeat News on Aug 3rd, 2022

Envestnet Asset Management Inc. raised its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,914 shares of the real estate investment trust’s stock after buying an additional 4,248 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Alexandria Real Estate Equities worth $20,913,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Alexandria Real Estate Equities by 6.0% during the fourth quarter. BlackRock Inc. now owns 14,913,187 shares of the real estate investment trust’s stock worth $3,325,044,000 after purchasing an additional 842,831 shares during the period. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth about $3,007,227,000. State Street Corp boosted its holdings in shares of Alexandria Real Estate Equities by 9.9% during the fourth quarter. State Street Corp now owns 9,128,518 shares of the real estate investment trust’s stock worth $2,045,623,000 after purchasing an additional 822,034 shares during the period. Capital World Investors boosted its holdings in shares of Alexandria Real Estate Equities by 0.3% during the fourth quarter. Capital World Investors now owns 3,624,923 shares of the real estate investment trust’s stock worth $808,213,000 after purchasing an additional 9,123 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Alexandria Real Estate Equities by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,273,413 shares of the real estate investment trust’s stock worth $729,841,000 after purchasing an additional 186,573 shares during the period. 94.49% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Trading Down 2.8 %

NYSE ARE opened at $159.67 on Wednesday. Alexandria Real Estate Equities, Inc. has a 12 month low of $130.00 and a 12 month high of $224.95. The stock has a market cap of $26.05 billion, a P/E ratio of 86.31, a P/E/G ratio of 2.56 and a beta of 0.92. The stock’s fifty day moving average price is $149.60 and its 200-day moving average price is $175.16. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.50.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its earnings results on Monday, July 25th. The real estate investment trust reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $1.01. Alexandria Real Estate Equities had a return on equity of 1.93% and a net margin of 12.54%. The firm had revenue of $643.80 million for the quarter, compared to analysts’ expectations of $633.13 million. During the same period in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 8.4 EPS for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $1.18 dividend. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. This represents a $4.72 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Wednesday, June 29th. Alexandria Real Estate Equities’s dividend payout ratio is currently 255.14%.

Insider Transactions at Alexandria Real Estate Equities

In other news, Director Maria C. Freire sold 2,311 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $163.04, for a total value of $376,785.44. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $489,120. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Jackie B. Clem sold 794 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $156.60, for a total transaction of $124,340.40. Following the sale, the general counsel now directly owns 22,824 shares of the company’s stock, valued at $3,574,238.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maria C. Freire sold 2,311 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $163.04, for a total value of $376,785.44. Following the sale, the director now directly owns 3,000 shares in the company, valued at $489,120. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,105 shares of company stock valued at $1,358,476. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Credit Suisse Group began coverage on shares of Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $140.00 price objective for the company. Finally, JMP Securities reduced their price target on Alexandria Real Estate Equities from $230.00 to $200.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $193.40.

Alexandria Real Estate Equities Company Profile

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Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet ("SF").