Prudential Financial Inc. Sells 293,605 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Prudential Financial Inc. lessened its holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 55.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,565 shares of the real estate investment trust’s stock after selling 293,605 shares during the quarter. Prudential Financial Inc. owned 0.14% of Alexandria Real Estate Equities worth $33,493,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Alexandria Real Estate Equities by 45.6% during the first quarter. JPMorgan Chase & Co. now owns 4,417,362 shares of the real estate investment trust’s stock worth $888,995,000 after acquiring an additional 1,383,240 shares in the last quarter. State Street Corp raised its position in Alexandria Real Estate Equities by 13.6% during the first quarter. State Street Corp now owns 10,367,269 shares of the real estate investment trust’s stock worth $2,097,960,000 after acquiring an additional 1,238,751 shares in the last quarter. Vanguard Group Inc. raised its position in Alexandria Real Estate Equities by 4.7% during the first quarter. Vanguard Group Inc. now owns 24,897,323 shares of the real estate investment trust’s stock worth $5,010,585,000 after acquiring an additional 1,114,118 shares in the last quarter. Parnassus Investments LLC raised its position in Alexandria Real Estate Equities by 41.1% during the first quarter. Parnassus Investments LLC now owns 3,459,409 shares of the real estate investment trust’s stock worth $696,206,000 after acquiring an additional 1,008,054 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position in Alexandria Real Estate Equities by 188.7% during the first quarter. Centersquare Investment Management LLC now owns 1,341,308 shares of the real estate investment trust’s stock worth $269,938,000 after acquiring an additional 876,725 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ARE shares. Robert W. Baird upped their price target on shares of Alexandria Real Estate Equities from $151.00 to $162.00 in a research report on Friday, December 2nd. Royal Bank of Canada dropped their price target on shares of Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, November 10th. JMP Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of Alexandria Real Estate Equities in a report on Thursday, October 6th. StockNews.com assumed coverage on shares of Alexandria Real Estate Equities in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, Evercore ISI decreased their price objective on shares of Alexandria Real Estate Equities to $168.00 in a report on Friday, December 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.43.

Alexandria Real Estate Equities Trading Up 0.4 %

ARE stock opened at $149.26 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.37 and a current ratio of 0.37. The company’s 50-day simple moving average is $144.02 and its 200 day simple moving average is $149.23. Alexandria Real Estate Equities, Inc. has a 52 week low of $126.74 and a 52 week high of $224.95. The company has a market capitalization of $24.49 billion, a PE ratio of 45.37, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.01). Alexandria Real Estate Equities had a net margin of 21.73% and a return on equity of 3.03%. The business had revenue of $659.90 million during the quarter, compared to analyst estimates of $657.48 million. During the same quarter last year, the company posted $1.95 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 8.41 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a dividend of $1.21 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $4.84 annualized dividend and a yield of 3.24%. Alexandria Real Estate Equities’s dividend payout ratio is currently 143.47%.

Insider Buying and Selling

In related news, EVP Marc E. Binda sold 3,316 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $154.00, for a total transaction of $510,664.00. Following the completion of the sale, the executive vice president now owns 49,413 shares of the company’s stock, valued at $7,609,602. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Marc E. Binda sold 3,316 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $154.00, for a total transaction of $510,664.00. Following the completion of the sale, the executive vice president now owns 49,413 shares of the company’s stock, valued at $7,609,602. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joel S. Marcus sold 2,500 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $152.00, for a total transaction of $380,000.00. Following the sale, the chairman now directly owns 343,526 shares of the company’s stock, valued at approximately $52,215,952. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

About Alexandria Real Estate Equities

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Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500^® urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).

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