Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totaling 1,810,000 shares, an increase of 5.2% from the January 31st total of 1,720,000 shares. Based on an average daily trading volume, of 744,300 shares, the days-to-cover ratio is currently 2.4 days.
Analyst Ratings Changes
ARE has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on Alexandria Real Estate Equities from $162.00 to $174.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Mizuho upped their price target on Alexandria Real Estate Equities from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 13th. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Evercore ISI reduced their target price on Alexandria Real Estate Equities to $168.00 in a report on Friday, December 2nd. Finally, JMP Securities reiterated a “buy” rating and set a $180.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, January 31st. Two equity research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.63.
Insider Buying and Selling
In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 9,000 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $168.00, for a total transaction of $1,512,000.00. Following the completion of the sale, the chairman now owns 388,729 shares of the company’s stock, valued at $65,306,472. The sale was disclosed in a filing with the SEC, which is available on the SEC website. In other news, Director John H. Cunningham sold 3,939 shares of the business’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $147.98, for a total value of $582,893.22. Following the completion of the sale, the director now owns 48,075 shares of the company’s stock, valued at approximately $7,114,138.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Joel S. Marcus sold 9,000 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $168.00, for a total value of $1,512,000.00. Following the completion of the sale, the chairman now directly owns 388,729 shares of the company’s stock, valued at approximately $65,306,472. The disclosure for this sale can be found here. Insiders sold a total of 44,538 shares of company stock worth $6,989,553 over the last ninety days. 0.96% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Alexandria Real Estate Equities
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alexandria Real Estate Equities by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 25,749,043 shares of the real estate investment trust’s stock worth $3,609,759,000 after purchasing an additional 253,345 shares during the period. Norges Bank bought a new position in Alexandria Real Estate Equities in the 4th quarter worth $2,277,135,000. BlackRock Inc. raised its holdings in Alexandria Real Estate Equities by 0.3% in the 3rd quarter. BlackRock Inc. now owns 15,161,961 shares of the real estate investment trust’s stock worth $2,125,554,000 after purchasing an additional 44,792 shares during the period. Principal Financial Group Inc. raised its holdings in Alexandria Real Estate Equities by 16.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,982,503 shares of the real estate investment trust’s stock worth $867,648,000 after purchasing an additional 852,420 shares during the period. Finally, the Canada Pension Plan Investment Board raised its holdings in Alexandria Real Estate Equities by 29.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,913,856 shares of the real estate investment trust’s stock worth $548,683,000 after purchasing an additional 885,711 shares during the period. 89.81% of the stock is owned by institutional investors.
Alexandria Real Estate Equities Stock Performance
Alexandria Real Estate Equities stock opened at $141.28 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $24.45 billion, a P/E ratio of 45.14, a PEG ratio of 2.08 and a beta of 0.95. The stock’s 50 day moving average is $155.28 and its 200 day moving average is $149.71. Alexandria Real Estate Equities has a twelve month low of $126.74 and a twelve month high of $206.85.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($1.82). The business had revenue of $670.28 million during the quarter, compared to the consensus estimate of $674.21 million. Alexandria Real Estate Equities had a net margin of 20.15% and a return on equity of 2.80%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $1.97 earnings per share. On average, equity research analysts predict that Alexandria Real Estate Equities will post 8.94 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a dividend of $1.21 per share. The ex-dividend date is Thursday, March 30th. This represents a $4.84 annualized dividend and a dividend yield of 3.43%. Alexandria Real Estate Equities’s payout ratio is 154.63%.
About Alexandria Real Estate Equities
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Alexandria Real Estate Equities, Inc engages in the business of providing space for lease. The firm is also an owner, operator, and developer of life science, agrotechnology, and technology campuses in Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.
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