Financial Management Professionals, Inc. reported in its latest 13F filing with the Securities and Exchange Commission that it increased its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – free report) by 66.1% during the first quarter. The institutional investor bought an additional 923 shares during the period, giving it a total holdings of 2,319 shares of the real estate investment trust. Financial Management Professionals, Inc.'s holdings of Alexandria Real Estate Equities shares were worth $299,000 at the end of the most recent quarter.
A number of other hedge funds also modified their positions in ARE. Oakworth Capital Inc. acquired a new position in Alexandria Real Estate Equities in the fourth quarter valued at approximately $25,000. Capital Advisors Ltd. LLC acquired a new position in Alexandria Real Estate Equities in the fourth quarter valued at approximately $25,000. HHM Wealth Advisors LLC increased its holdings in shares of Alexandria Real Estate Equities by 340.9% in the fourth quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust worth $25,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Alexandria Real Estate Equities by 275.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. Finally, Mather Group LLC purchased a new stake in Alexandria Real Estate Equities in the first quarter valued at about $30,000. Institutional investors and hedge funds own 96.54% of the company's shares.
Alexandria Real Estate stock trading up 1.6%
ARE's shares opened at $116.97 on Friday. The company's 50-day moving average is $118.27 and its 200-day moving average is $121.92. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio (PE) of 109.32, a price-to-earnings growth ratio (PER) of 2.91 and a beta of 1.12. Alexandria Real Estate Equities, Inc.'s one-year low of $90.73 and a one-year high of $135.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.30.
Alexandria Real Estate Equities increases dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $1.30. This equates to an annualized dividend of $5.20 and a yield of 4.45%. The ex-dividend date is Friday, June 28th. This is an increase from Alexandria Real Estate Equities' previous quarterly dividend of $1.27. Alexandria Real Estate Equities has a dividend payout ratio (DPR) of 485.99%.
Wall Street analysts predict growth
A number of brokerages have commented on ARE recently. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, April 24th. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Evercore ISI lowered their price target on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have assigned a hold rating to the company, and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of a “moderate buy” and a consensus target price of $136.75.
Get the latest stock analysis on Alexandria Real Estate stock
Insider trading in Alexandria Real Estate shares
In other news, major shareholder, Real Estate Equitie Alexandria sold 150,000 shares of Alexandria Real Estate Equities stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares of the company's stock, valued at $25,281,374.17. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. 1.15% of the stock is owned by company insiders.
Alexandria Real Estate Stock Profile
(Free report)
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life sciences REIT making a positive and lasting impact on the world. As a pioneer in the life sciences real estate niche since its founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life sciences, agtech and advanced technology mega-campuses in AAA innovation cluster regions including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and the Research Triangle.
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