Mackay Shields LLC Purchases 10,687 Shares of Alexandria Real Estate Equities Inc (NYSE:ARE)

Mackay Shields LLC boosted its stake in Alexandria Real Estate Equities Inc (NYSE:ARE) by 61.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,981 shares of the real estate investment trust’s stock after acquiring an additional 10,687 shares during the period. Mackay Shields LLC’s holdings in Alexandria Real Estate Equities were worth $4,310,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its position in shares of Alexandria Real Estate Equities by 67.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,090 shares of the real estate investment trust’s stock worth $1,862,000 after purchasing an additional 4,854 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Alexandria Real Estate Equities by 35.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 555,250 shares of the real estate investment trust’s stock worth $85,411,000 after purchasing an additional 145,713 shares during the last quarter. BB&T Corp raised its position in shares of Alexandria Real Estate Equities by 1.6% in the 3rd quarter. BB&T Corp now owns 12,561 shares of the real estate investment trust’s stock worth $1,935,000 after purchasing an additional 195 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Alexandria Real Estate Equities by 7.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,405 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 601 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Alexandria Real Estate Equities by 13.5% in the 3rd quarter. California Public Employees Retirement System now owns 706,078 shares of the real estate investment trust’s stock worth $108,764,000 after purchasing an additional 83,877 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

Several research firms have recently issued reports on ARE. JPMorgan Chase & Co. lifted their price target on Alexandria Real Estate Equities from $140.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. GMP Securities reaffirmed an “average” rating and issued a $26.00 price target on shares of Alexandria Real Estate Equities in a research report on Thursday, August 1st. TD Securities lowered their price target on Alexandria Real Estate Equities from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, November 4th. ValuEngine lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird set a $152.00 price target on Alexandria Real Estate Equities and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.73.

In other Alexandria Real Estate Equities news, EVP John H. Cunningham sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $144.00, for a total transaction of $864,000.00. Following the completion of the sale, the executive vice president now directly owns 42,595 shares in the company, valued at approximately $6,133,680. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Joel S. Marcus sold 9,750 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $152.75, for a total value of $1,489,312.50. Following the sale, the chairman now owns 445,962 shares of the company’s stock, valued at $68,120,695.50. The disclosure for this sale can be found here. Insiders sold a total of 29,183 shares of company stock valued at $4,409,057 over the last quarter. 1.43% of the stock is owned by corporate insiders.

NYSE ARE traded up $0.03 during trading hours on Friday, hitting $153.91. The company’s stock had a trading volume of 571,263 shares, compared to its average volume of 717,806. Alexandria Real Estate Equities Inc has a 12 month low of $109.04 and a 12 month high of $160.25. The company’s 50 day simple moving average is $155.22 and its two-hundred day simple moving average is $148.38. The company has a market cap of $17.59 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 4.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.37 and a quick ratio of 0.37.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported ($0.44) EPS for the quarter, missing the consensus estimate of $1.75 by ($2.19). Alexandria Real Estate Equities had a return on equity of 1.63% and a net margin of 9.29%. The business had revenue of $390.50 million during the quarter, compared to the consensus estimate of $389.99 million. During the same quarter in the previous year, the business posted $1.66 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, research analysts predict that Alexandria Real Estate Equities Inc will post 6.97 earnings per share for the current fiscal year.

The firm also recently disclosed a — dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.00 dividend. The ex-dividend date was Friday, September 27th. This represents a yield of 2.6%. Alexandria Real Estate Equities’s payout ratio is 60.61%.

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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Institutional Ownership by Quarter for Alexandria Real Estate Equities (NYSE:ARE)

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