Texas Permanent School Fund increased its holdings in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,931 shares of the real estate investment trust’s stock after buying an additional 304 shares during the quarter. Texas Permanent School Fund’s holdings in Alexandria Real Estate Equities were worth $3,126,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc lifted its position in shares of Alexandria Real Estate Equities by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 16,605,056 shares of the real estate investment trust’s stock worth $2,088,750,000 after buying an additional 377,569 shares during the last quarter. BlackRock Inc. raised its position in Alexandria Real Estate Equities by 3.5% in the fourth quarter. BlackRock Inc. now owns 10,965,956 shares of the real estate investment trust’s stock valued at $1,263,717,000 after purchasing an additional 369,086 shares during the last quarter. Principal Financial Group Inc. raised its position in Alexandria Real Estate Equities by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,736,644 shares of the real estate investment trust’s stock valued at $545,851,000 after purchasing an additional 81,713 shares during the last quarter. PGGM Investments raised its position in Alexandria Real Estate Equities by 2.6% in the fourth quarter. PGGM Investments now owns 3,060,000 shares of the real estate investment trust’s stock valued at $352,634,000 after purchasing an additional 76,384 shares during the last quarter. Finally, Northern Trust Corp raised its position in Alexandria Real Estate Equities by 6.7% in the fourth quarter. Northern Trust Corp now owns 1,766,981 shares of the real estate investment trust’s stock valued at $203,626,000 after purchasing an additional 110,179 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.
Shares of ARE traded up $0.02 during mid-day trading on Thursday, reaching $150.66. 456,800 shares of the company were exchanged, compared to its average volume of 703,050. Alexandria Real Estate Equities Inc has a 52 week low of $109.04 and a 52 week high of $151.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 4.90 and a beta of 0.82.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.00 annualized dividend and a yield of 2.65%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 58.79%.
In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria bought 975,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average price of $10.00 per share, with a total value of $9,750,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter M. Moglia sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $139.89, for a total value of $419,670.00. Following the sale, the chief executive officer now directly owns 176,133 shares of the company’s stock, valued at approximately $24,639,245.37. The disclosure for this sale can be found here. Insiders have sold 60,551 shares of company stock valued at $8,588,235 in the last ninety days. 1.43% of the stock is currently owned by insiders.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Barclays downgraded Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $130.00 to $136.00 in a research report on Thursday, April 4th. Canaccord Genuity reiterated an “average” rating and issued a $25.00 target price on shares of Alexandria Real Estate Equities in a research report on Thursday, March 7th. Finally, Mitsubishi UFJ Financial Group increased their target price on Alexandria Real Estate Equities to $132.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Alexandria Real Estate Equities presently has a consensus rating of “Buy” and an average price target of $108.57.
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About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.
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