Bank of Nova Scotia Buys 3,607 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of Nova Scotia lifted its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:AREGet Rating) by 86.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,761 shares of the real estate investment trust’s stock after acquiring an additional 3,607 shares during the quarter. Bank of Nova Scotia’s holdings in Alexandria Real Estate Equities were worth $1,126,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ARE. DB Wealth Management Group LLC bought a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth about $26,000. Glassman Wealth Services boosted its stake in Alexandria Real Estate Equities by 137.2% during the 2nd quarter. Glassman Wealth Services now owns 204 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 118 shares during the period. Tcwp LLC bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at approximately $31,000. Anson Funds Management LP bought a new stake in Alexandria Real Estate Equities during the 1st quarter valued at approximately $42,000. Finally, Clear Street Markets LLC boosted its stake in Alexandria Real Estate Equities by 420.0% during the 2nd quarter. Clear Street Markets LLC now owns 312 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 252 shares during the period. Institutional investors own 91.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ARE shares. Mizuho increased their target price on Alexandria Real Estate Equities from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Royal Bank of Canada cut their price target on Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. JMP Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Alexandria Real Estate Equities in a report on Thursday, October 6th. Evercore ISI cut their price target on Alexandria Real Estate Equities from $194.00 to $182.00 and set an “outperform” rating for the company in a report on Tuesday, September 27th. Finally, BTIG Research cut their price target on Alexandria Real Estate Equities from $233.00 to $186.00 in a report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.67.

Alexandria Real Estate Equities Trading Up 2.0 %

Shares of ARE opened at $150.17 on Friday. Alexandria Real Estate Equities, Inc. has a 1 year low of $126.74 and a 1 year high of $224.95. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $142.40 and a 200-day simple moving average of $151.06. The stock has a market cap of $24.64 billion, a PE ratio of 45.64, a PEG ratio of 2.27 and a beta of 0.91.

Alexandria Real Estate Equities (NYSE:AREGet Rating) last issued its earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.01). Alexandria Real Estate Equities had a return on equity of 3.03% and a net margin of 21.73%. The company had revenue of $659.90 million during the quarter, compared to analyst estimates of $657.48 million. During the same period in the previous year, the company posted $1.95 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 8.41 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $1.18 per share. The ex-dividend date was Thursday, September 29th. This represents a $4.72 dividend on an annualized basis and a yield of 3.14%. Alexandria Real Estate Equities’s dividend payout ratio is 143.47%.

About Alexandria Real Estate Equities

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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").

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Institutional Ownership by Quarter for Alexandria Real Estate Equities (NYSE:ARE)

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