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Harbor Investment Advisory LLC lessened its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,709 shares of the real estate investment trust’s stock after selling 240 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Alexandria Real Estate Equities were worth $736,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth $2,086,085,000. APG Asset Management US Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 0.5% during the fourth quarter. APG Asset Management US Inc. now owns 7,216,689 shares of the real estate investment trust’s stock worth $914,860,000 after purchasing an additional 39,243 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 3,747,866 shares of the real estate investment trust’s stock worth $475,117,000 after purchasing an additional 32,122 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alexandria Real Estate Equities by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,391,396 shares of the real estate investment trust’s stock worth $303,166,000 after purchasing an additional 22,105 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Alexandria Real Estate Equities by 3.4% during the third quarter. Legal & General Group Plc now owns 2,316,770 shares of the real estate investment trust’s stock worth $231,909,000 after purchasing an additional 77,012 shares during the period. Institutional investors own 96.54% of the company’s stock.
Alexandria Real Estate Equities Price Performance
Shares of NYSE ARE opened at $118.03 on Tuesday. The firm’s 50-day moving average price is $118.28 and its 200-day moving average price is $122.01. Alexandria Real Estate Equities, Inc. has a 1-year low of $90.73 and a 1-year high of $135.45. The firm has a market capitalization of $20.64 billion, a P/E ratio of 110.31, a P/E/G ratio of 2.92 and a beta of 1.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.54.
Alexandria Real Estate Equities Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, June 28th. This represents a $5.20 annualized dividend and a dividend yield of 4.41%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. Alexandria Real Estate Equities’s dividend payout ratio is currently 474.77%.
Wall Street Analyst Weigh In
ARE has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Moderate Buy” and an average price target of $136.75.
Check Out Our Latest Stock Report on ARE
Insider Activity
In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.15% of the company’s stock.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.
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