Alexandria Real Estate Equities, Inc. (NYSE:ARE) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 19.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,034,982 shares of the real estate investment trust’s stock after acquiring an additional 494,964 shares during the quarter. Principal Financial Group Inc. owned approximately 3.24% of Alexandria Real Estate Equities worth $365,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARE. BlackRock Inc. boosted its stake in Alexandria Real Estate Equities by 3,165.7% in the first quarter. BlackRock Inc. now owns 8,350,227 shares of the real estate investment trust’s stock valued at $922,867,000 after acquiring an additional 8,094,530 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alexandria Real Estate Equities by 20.5% in the first quarter. Vanguard Group Inc. now owns 14,752,505 shares of the real estate investment trust’s stock valued at $1,630,446,000 after purchasing an additional 2,504,746 shares during the period. State Street Corp raised its position in shares of Alexandria Real Estate Equities by 31.4% in the first quarter. State Street Corp now owns 4,969,276 shares of the real estate investment trust’s stock valued at $549,191,000 after purchasing an additional 1,186,353 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alexandria Real Estate Equities by 152.5% in the first quarter. JPMorgan Chase & Co. now owns 1,742,259 shares of the real estate investment trust’s stock valued at $192,555,000 after purchasing an additional 1,052,130 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Alexandria Real Estate Equities by 60.6% in the second quarter. Bank of New York Mellon Corp now owns 2,147,368 shares of the real estate investment trust’s stock valued at $258,693,000 after purchasing an additional 810,466 shares during the period.

In other Alexandria Real Estate Equities news, EVP Thomas J. Andrews sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $120.58, for a total transaction of $602,900.00. Following the transaction, the executive vice president now owns 158,000 shares of the company’s stock, valued at $19,051,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter M. Moglia sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $119.27, for a total transaction of $238,540.00. Following the transaction, the insider now directly owns 85,867 shares in the company, valued at approximately $10,241,357.09. The disclosure for this sale can be found here. In the last three months, insiders sold 50,893 shares of company stock worth $6,147,779. 1.60% of the stock is currently owned by insiders.

ARE has been the topic of several research reports. BidaskClub raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Tuesday, July 18th. Finally, Barclays PLC boosted their price target on shares of Alexandria Real Estate Equities from $129.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $128.25.

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Shares of Alexandria Real Estate Equities, Inc. (ARE) opened at 119.44 on Thursday. The company’s 50-day moving average is $120.55 and its 200-day moving average is $117.17. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 269.62 and a beta of 0.87. Alexandria Real Estate Equities, Inc. has a 12-month low of $101.51 and a 12-month high of $123.89.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.50. The company had revenue of $273.10 million for the quarter, compared to the consensus estimate of $277.40 million. Alexandria Real Estate Equities had a net margin of 9.45% and a return on equity of 3.11%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. Equities research analysts predict that Alexandria Real Estate Equities, Inc. will post $1.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 28th. Alexandria Real Estate Equities’s payout ratio is 860.02%.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

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




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