Huntington National Bank Reduces Position in Alexandria Real Estate Equities Inc (NYSE:ARE)

Huntington National Bank decreased its holdings in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,414 shares of the real estate investment trust’s stock after selling 226 shares during the quarter. Huntington National Bank’s holdings in Alexandria Real Estate Equities were worth $1,690,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Alexandria Real Estate Equities by 31.2% during the first quarter. The Manufacturers Life Insurance Company now owns 141,643 shares of the real estate investment trust’s stock worth $19,414,000 after buying an additional 33,724 shares in the last quarter. AXA boosted its holdings in shares of Alexandria Real Estate Equities by 12.2% in the first quarter. AXA now owns 90,404 shares of the real estate investment trust’s stock valued at $12,390,000 after acquiring an additional 9,848 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Alexandria Real Estate Equities by 98.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,926 shares of the real estate investment trust’s stock valued at $1,223,000 after acquiring an additional 4,426 shares during the period. Korea Investment CORP boosted its holdings in shares of Alexandria Real Estate Equities by 13.1% in the first quarter. Korea Investment CORP now owns 342,200 shares of the real estate investment trust’s stock valued at $46,902,000 after acquiring an additional 39,768 shares during the period. Finally, Telemus Capital LLC acquired a new stake in shares of Alexandria Real Estate Equities in the first quarter valued at approximately $769,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on ARE shares. Mizuho decreased their price objective on Alexandria Real Estate Equities from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, July 20th. Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a report on Thursday, May 28th. Royal Bank of Canada increased their price target on Alexandria Real Estate Equities from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. CIBC decreased their price target on Alexandria Real Estate Equities from $24.00 to $20.00 and set an “outperformer” rating for the company in a report on Wednesday, April 22nd. Finally, JMP Securities began coverage on Alexandria Real Estate Equities in a report on Monday, June 8th. They set an “outperform” rating and a $185.00 price target for the company. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $146.25.

Shares of NYSE ARE traded up $1.42 during midday trading on Friday, hitting $177.55. The stock had a trading volume of 840,272 shares, compared to its average volume of 885,741. The company has a quick ratio of 0.37, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. Alexandria Real Estate Equities Inc has a 1-year low of $109.22 and a 1-year high of $177.64. The company has a fifty day moving average price of $165.26 and a 200 day moving average price of $156.50. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 54.46, a PEG ratio of 5.66 and a beta of 0.83.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.01. Alexandria Real Estate Equities had a return on equity of 3.94% and a net margin of 24.09%. The firm had revenue of $436.96 million during the quarter, compared to the consensus estimate of $448.92 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. On average, research analysts forecast that Alexandria Real Estate Equities Inc will post 7.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $1.06 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.24 annualized dividend and a dividend yield of 2.39%. Alexandria Real Estate Equities’s dividend payout ratio is 60.92%.

In other news, EVP Marc E. Binda sold 700 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $152.50, for a total transaction of $106,750.00. Following the sale, the executive vice president now directly owns 49,972 shares of the company’s stock, valued at $7,620,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Cunningham sold 2,678 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $152.71, for a total value of $408,957.38. Following the sale, the director now directly owns 50,449 shares in the company, valued at $7,704,066.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,303 shares of company stock valued at $7,035,218. Insiders own 1.12% of the company’s stock.

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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