Alexandria Real Estate Equities, Inc. $ARE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 67.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,371 shares of the real estate investment trust’s stock after selling 339,979 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.09% of Alexandria Real Estate Equities worth $7,659,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ARE. Handelsbanken Fonder AB grew its holdings in Alexandria Real Estate Equities by 58.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 68,500 shares of the real estate investment trust’s stock valued at $3,620,000 after buying an additional 25,300 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $1,155,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $2,047,000. Hsbc Holdings PLC grew its holdings in Alexandria Real Estate Equities by 15.2% in the second quarter. Hsbc Holdings PLC now owns 1,208,572 shares of the real estate investment trust’s stock valued at $64,485,000 after purchasing an additional 159,552 shares during the period. Finally, Man Group plc purchased a new stake in Alexandria Real Estate Equities in the second quarter valued at approximately $4,994,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ARE. BMO Capital Markets dropped their price target on shares of Alexandria Real Estate Equities from $52.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, September 28th. Robert W. Baird increased their target price on Alexandria Real Estate Equities from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Zacks Research upgraded Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Raymond James Financial set a $41.00 price target on Alexandria Real Estate Equities in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 price target for the company. in a research note on Thursday, September 24th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $49.79.

Alexandria Real Estate Equities Stock Down 0.9%

Shares of ARE stock traded down $0.40 during trading hours on Friday, reaching $44.77. The company had a trading volume of 1,879,160 shares, compared to its average volume of 2,686,579. The company has a market capitalization of $7.80 billion, a P/E ratio of -5.32 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.14 and a current ratio of 0.14. Alexandria Real Estate Equities, Inc. has a twelve month low of $38.34 and a twelve month high of $59.76. The stock’s fifty day simple moving average is $47.20 and its 200 day simple moving average is $49.38.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative return on equity of 7.52% and a negative net margin of 51.81%. The company had revenue of $671.18 million during the quarter, compared to analysts’ expectations of $646.26 million. The firm’s revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 EPS. As a group, sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 6.39 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.72 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 6.4%. Alexandria Real Estate Equities’s payout ratio is currently -34.20%.

Insider Activity

In other Alexandria Real Estate Equities news, Chairman Joel Marcus purchased 5,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average price of $49.68 per share, with a total value of $248,400.00. Following the completion of the acquisition, the chairman owned 597,724 shares of the company’s stock, valued at approximately $29,694,928.32. This trade represents a 0.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andres Gavinet sold 10,000 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $50.93, for a total value of $509,300.00. Following the completion of the transaction, the chief accounting officer directly owned 102,516 shares of the company’s stock, valued at $5,221,139.88. This represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.35% of the company’s stock.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.