Edgemoor Investment Advisors Inc. Takes Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Edgemoor Investment Advisors Inc. purchased a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 61,169 shares of the real estate investment trust’s stock, valued at approximately $7,155,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Alexandria Real Estate Equities by 275.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 171 shares during the last quarter. Mather Group LLC. purchased a new stake in Alexandria Real Estate Equities during the first quarter valued at approximately $30,000. UMB Bank n.a. boosted its stake in Alexandria Real Estate Equities by 132.8% in the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Rothschild Investment LLC purchased a new position in Alexandria Real Estate Equities in the second quarter worth $33,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Alexandria Real Estate Equities during the fourth quarter worth $35,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock traded up $0.31 during trading hours on Monday, hitting $116.60. The company’s stock had a trading volume of 32,115 shares, compared to its average volume of 910,595. The stock has a market cap of $20.40 billion, a PE ratio of 108.68, a price-to-earnings-growth ratio of 4.05 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 12-month low of $90.73 and a 12-month high of $135.45. The company has a 50 day moving average of $118.16 and a 200 day moving average of $119.86. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same period in the previous year, the company posted $2.24 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.99%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ARE shares. Royal Bank of Canada dropped their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Finally, Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $130.00 in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $131.33.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.