Huntington National Bank Trims Stake in Alexandria Real Estate Equities Inc (NYSE:ARE)

Huntington National Bank reduced its holdings in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,414 shares of the real estate investment trust’s stock after selling 226 shares during the period. Huntington National Bank’s holdings in Alexandria Real Estate Equities were worth $1,690,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ARE. BlackRock Inc. increased its stake in shares of Alexandria Real Estate Equities by 7.2% in the first quarter. BlackRock Inc. now owns 12,166,368 shares of the real estate investment trust’s stock worth $1,667,524,000 after purchasing an additional 821,353 shares in the last quarter. Capital World Investors increased its stake in shares of Alexandria Real Estate Equities by 49.9% in the first quarter. Capital World Investors now owns 2,325,591 shares of the real estate investment trust’s stock worth $318,746,000 after purchasing an additional 773,710 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Alexandria Real Estate Equities in the first quarter worth $71,776,000. Capital Research Global Investors increased its stake in shares of Alexandria Real Estate Equities by 25.1% in the first quarter. Capital Research Global Investors now owns 2,499,630 shares of the real estate investment trust’s stock worth $342,599,000 after purchasing an additional 501,073 shares in the last quarter. Finally, APG Asset Management US Inc. increased its stake in shares of Alexandria Real Estate Equities by 9.2% in the first quarter. APG Asset Management US Inc. now owns 5,111,000 shares of the real estate investment trust’s stock worth $700,514,000 after purchasing an additional 432,000 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on ARE. Mizuho reduced their price objective on shares of Alexandria Real Estate Equities from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, July 20th. JMP Securities initiated coverage on shares of Alexandria Real Estate Equities in a research note on Monday, June 8th. They issued an “outperform” rating and a $185.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Alexandria Real Estate Equities from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research report on Thursday, May 28th. Finally, CIBC dropped their target price on shares of Alexandria Real Estate Equities from $24.00 to $20.00 and set an “outperformer” rating for the company in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $146.25.

ARE stock traded up $1.42 during trading on Friday, hitting $177.55. 840,272 shares of the company’s stock traded hands, compared to its average volume of 885,741. Alexandria Real Estate Equities Inc has a 52 week low of $109.22 and a 52 week high of $177.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.37 and a current ratio of 0.19. The business has a fifty day simple moving average of $165.26 and a 200 day simple moving average of $156.50. The stock has a market capitalization of $22.39 billion, a price-to-earnings ratio of 54.46, a P/E/G ratio of 5.66 and a beta of 0.83.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.01. Alexandria Real Estate Equities had a net margin of 24.09% and a return on equity of 3.94%. The business had revenue of $436.96 million during the quarter, compared to analyst estimates of $448.92 million. During the same quarter last year, the business earned $0.68 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 16.9% compared to the same quarter last year. Research analysts forecast that Alexandria Real Estate Equities Inc will post 7.3 earnings per share for the current fiscal year.

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

In other news, EVP Marc E. Binda sold 700 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $152.50, for a total value of $106,750.00. Following the completion of the sale, the executive vice president now owns 49,972 shares in the company, valued at approximately $7,620,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Richardson sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $147.63, for a total transaction of $1,476,300.00. Following the completion of the sale, the chief executive officer now owns 188,690 shares of the company’s stock, valued at approximately $27,856,304.70. The disclosure for this sale can be found here. Insiders have sold 46,303 shares of company stock valued at $7,035,218 in the last quarter. 1.12% of the stock is owned by company insiders.

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.

Further Reading: What is a price target?

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:ARE).

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

Receive News & Ratings for Alexandria Real Estate Equities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexandria Real Estate Equities and related companies with MarketBeat.com's FREE daily email newsletter.