Alexandria Real Estate Equities Inc (NYSE:ARE) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $152.31 and last traded at $152.04, with a volume of 5473 shares changing hands. The stock had previously closed at $151.03.
Several research analysts have recently issued reports on ARE shares. Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Monday, March 4th. Mitsubishi UFJ Financial Group increased their target price on Alexandria Real Estate Equities to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Barclays lowered Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $130.00 to $136.00 in a research report on Thursday, April 4th. Finally, Canaccord Genuity reissued an “average” rating and issued a $25.00 target price on shares of Alexandria Real Estate Equities in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Alexandria Real Estate Equities currently has a consensus rating of “Buy” and an average price target of $108.57.
The stock has a market capitalization of $17.02 billion, a PE ratio of 23.11, a P/E/G ratio of 5.02 and a beta of 0.81. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.71.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.63%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. Alexandria Real Estate Equities’s dividend payout ratio is presently 58.79%.
In related news, Director Richard Hunter Klein sold 1,103 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $142.50, for a total value of $157,177.50. Following the sale, the director now owns 10,617 shares in the company, valued at approximately $1,512,922.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lawrence J. Diamond sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $142.58, for a total value of $142,580.00. Following the completion of the sale, the chief operating officer now owns 59,217 shares in the company, valued at approximately $8,443,159.86. The disclosure for this sale can be found here. Insiders sold a total of 57,551 shares of company stock worth $8,163,855 in the last 90 days. 1.43% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB boosted its stake in Alexandria Real Estate Equities by 0.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,455 shares of the real estate investment trust’s stock valued at $1,918,000 after purchasing an additional 83 shares during the last quarter. ETF Managers Group LLC boosted its stake in Alexandria Real Estate Equities by 8.9% during the 1st quarter. ETF Managers Group LLC now owns 1,164 shares of the real estate investment trust’s stock valued at $166,000 after purchasing an additional 95 shares during the last quarter. Cigna Investments Inc. New boosted its stake in Alexandria Real Estate Equities by 3.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,185 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 110 shares during the last quarter. Quadrant Capital Management LLC boosted its stake in Alexandria Real Estate Equities by 0.8% during the 4th quarter. Quadrant Capital Management LLC now owns 13,452 shares of the real estate investment trust’s stock valued at $1,550,000 after purchasing an additional 111 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in Alexandria Real Estate Equities by 2.9% during the 1st quarter. First Hawaiian Bank now owns 4,217 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.
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About Alexandria Real Estate Equities (NYSE:ARE)
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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