Harvest Portfolios Group Inc. Boosts Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Harvest Portfolios Group Inc. increased its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 92.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,755 shares of the real estate investment trust’s stock after buying an additional 3,724 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Alexandria Real Estate Equities were worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Alexandria Real Estate Equities by 14.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,833 shares of the real estate investment trust’s stock valued at $36,331,000 after purchasing an additional 34,854 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alexandria Real Estate Equities by 2.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock worth $41,482,000 after buying an additional 9,187 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after acquiring an additional 156,643 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Alexandria Real Estate Equities by 301.6% during the 1st quarter. SG Americas Securities LLC now owns 71,743 shares of the real estate investment trust’s stock valued at $9,248,000 after acquiring an additional 53,877 shares during the period. Finally, BDF Gestion bought a new position in Alexandria Real Estate Equities during the 2nd quarter worth approximately $2,560,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Evercore ISI dropped their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $131.22.

Alexandria Real Estate Equities Price Performance

ARE opened at $112.98 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The company has a market cap of $19.74 billion, a price-to-earnings ratio of 68.89, a price-to-earnings-growth ratio of 4.15 and a beta of 1.16. The stock has a fifty day simple moving average of $118.23 and a two-hundred day simple moving average of $118.23. Alexandria Real Estate Equities, Inc. has a 12-month low of $93.17 and a 12-month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The business had revenue of $791.60 million during the quarter, compared to the consensus estimate of $766.97 million. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.48 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.30 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.60%. Alexandria Real Estate Equities’s dividend payout ratio is currently 317.07%.

Alexandria Real Estate Equities 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.