DAVENPORT & Co LLC Increases Stock Position in Alexandria Real Estate Equities, Inc. $ARE

DAVENPORT & Co LLC raised its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:AREFree Report) by 33.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,115,665 shares of the real estate investment trust’s stock after acquiring an additional 279,876 shares during the period. DAVENPORT & Co LLC’s holdings in Alexandria Real Estate Equities were worth $93,218,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sound Income Strategies LLC bought a new position in Alexandria Real Estate Equities during the second quarter valued at approximately $25,000. Loomis Sayles & Co. L P purchased a new stake in shares of Alexandria Real Estate Equities during the 2nd quarter worth approximately $27,000. American National Bank & Trust bought a new position in shares of Alexandria Real Estate Equities during the 2nd quarter valued at approximately $29,000. CYBER HORNET ETFs LLC bought a new position in shares of Alexandria Real Estate Equities during the 2nd quarter valued at approximately $30,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Alexandria Real Estate Equities in the second quarter valued at $33,000. 96.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alexandria Real Estate Equities news, Director Sheila K. Mcgrath bought 3,100 shares of Alexandria Real Estate Equities stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $45.60 per share, for a total transaction of $141,360.00. Following the completion of the purchase, the director directly owned 8,392 shares in the company, valued at approximately $382,675.20. This trade represents a 58.58% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is owned by company insiders.

More Alexandria Real Estate Equities News

Here are the key news stories impacting Alexandria Real Estate Equities this week:

Wall Street Analysts Forecast Growth

ARE has been the topic of a number of recent research reports. Robert W. Baird decreased their price target on shares of Alexandria Real Estate Equities from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday, December 4th. Zacks Research cut shares of Alexandria Real Estate Equities from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. BNP Paribas downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “strong sell” rating and set a $82.00 price target for the company. in a report on Wednesday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price objective on Alexandria Real Estate Equities from $98.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.60.

Check Out Our Latest Stock Analysis on Alexandria Real Estate Equities

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE opened at $48.02 on Wednesday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.65. Alexandria Real Estate Equities, Inc. has a 12 month low of $44.10 and a 12 month high of $105.14. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -19.44, a PEG ratio of 4.19 and a beta of 1.32. The firm’s 50-day moving average is $55.89 and its 200 day moving average is $70.62.

Alexandria Real Estate Equities (NYSE:AREGet Free Report) last announced its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.09). Alexandria Real Estate Equities had a negative return on equity of 1.89% and a negative net margin of 13.43%.The firm had revenue of $751.94 million during the quarter, compared to the consensus estimate of $752.90 million. During the same period in the previous year, the business earned $2.37 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. Alexandria Real Estate Equities has set its FY 2025 guidance at 8.980-9.040 EPS. Research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share repurchase plan on Monday, December 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Alexandria Real Estate Equities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.88 dividend on an annualized basis and a yield of 6.0%. Alexandria Real Estate Equities’s payout ratio is presently -213.77%.

Alexandria Real Estate Equities Profile

(Free Report)

Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company’s properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.

See Also

Want to see what other hedge funds are holding ARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alexandria Real Estate Equities, Inc. (NYSE:AREFree Report).

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

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