Verdence Capital Advisors LLC Takes $666,000 Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Verdence Capital Advisors LLC acquired a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,608 shares of the real estate investment trust’s stock, valued at approximately $666,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Washington Trust Advisors Inc. lifted its position in shares of Alexandria Real Estate Equities by 35.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 47,004 shares of the real estate investment trust’s stock worth $5,582,000 after purchasing an additional 12,371 shares during the period. Keudell Morrison Wealth Management acquired a new position in Alexandria Real Estate Equities in the third quarter valued at $265,000. Advisor Resource Council bought a new stake in Alexandria Real Estate Equities during the third quarter valued at $327,000. Harvest Portfolios Group Inc. grew its holdings in Alexandria Real Estate Equities by 92.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 7,755 shares of the real estate investment trust’s stock worth $921,000 after acquiring an additional 3,724 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new position in shares of Alexandria Real Estate Equities in the 3rd quarter worth about $304,000. 96.54% of the stock is currently owned by institutional investors.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $114.04 on Monday. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 69.54, a PEG ratio of 4.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $135.45. The firm’s 50-day simple moving average is $118.04 and its 200 day simple moving average is $118.15.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The company had revenue of $791.60 million during the quarter, compared to the consensus estimate of $766.97 million. During the same quarter in the prior year, the business earned $2.26 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.56%. Alexandria Real Estate Equities’s dividend payout ratio is currently 317.07%.

Analyst Upgrades and Downgrades

ARE has been the topic of several research analyst reports. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Wedbush reduced their price objective on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Evercore ISI dropped their price objective on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $131.10.

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.