State of Tennessee Treasury Department Lowers Stake in Alexandria Real Estate Equities, Inc. (ARE)

State of Tennessee Treasury Department cut its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 65.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,909 shares of the real estate investment trust’s stock after selling 47,270 shares during the period. State of Tennessee Treasury Department’s holdings in Alexandria Real Estate Equities were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its stake in Alexandria Real Estate Equities by 395.0% in the 1st quarter. Perigon Wealth Management LLC now owns 990 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 790 shares during the period. Capital Analysts LLC acquired a new position in Alexandria Real Estate Equities in the 2nd quarter worth $125,000. Invictus RG acquired a new position in Alexandria Real Estate Equities in the 1st quarter worth $133,000. First Personal Financial Services boosted its stake in Alexandria Real Estate Equities by 7.9% in the 2nd quarter. First Personal Financial Services now owns 1,112 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 81 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Alexandria Real Estate Equities in the 1st quarter worth $179,000.

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In other Alexandria Real Estate Equities news, COO Stephen Richardson sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $120.56, for a total value of $904,200.00. Following the sale, the chief operating officer now owns 136,972 shares of the company’s stock, valued at $16,513,344.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Andrews sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $120.58, for a total transaction of $602,900.00. Following the completion of the sale, the executive vice president now directly owns 158,000 shares in the company, valued at approximately $19,051,640. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,893 shares of company stock worth $5,671,239. Insiders own 1.60% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Wednesday, August 9th. BidaskClub raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC upped their target price on shares of Alexandria Real Estate Equities from $129.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Alexandria Real Estate Equities has a consensus rating of “Buy” and an average price target of $128.25.

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) opened at 119.34 on Friday. The company has a market capitalization of $11.17 billion, a PE ratio of 269.39 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. The firm’s 50-day moving average is $120.48 and its 200 day moving average is $117.23.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.86 per share. 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 currently 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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