Hartford Investment Management Co. Lowers Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Hartford Investment Management Co. decreased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,694 shares of the real estate investment trust’s stock after selling 341 shares during the period. Hartford Investment Management Co.’s holdings in Alexandria Real Estate Equities were worth $1,151,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ARE. UMB Bank n.a. raised 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 worth $32,000 after buying an additional 154 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Alexandria Real Estate Equities in the 2nd quarter worth $33,000. Global X Japan Co. Ltd. purchased a new stake in shares of Alexandria Real Estate Equities during the 2nd quarter worth $43,000. M&R Capital Management Inc. purchased a new stake in shares of Alexandria Real Estate Equities during the third quarter valued at about $50,000. Finally, Hilltop National Bank boosted its stake in Alexandria Real Estate Equities by 27.0% in the second quarter. Hilltop National Bank now owns 686 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARE. Evercore ISI reduced their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday. 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 downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $151.00 to $126.00 in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price (down previously from $130.00) on shares of Alexandria Real Estate Equities in a report on Thursday. Finally, Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $131.22.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE opened at $113.03 on Friday. The company has a market capitalization of $19.77 billion, a PE ratio of 106.50, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The company’s fifty day moving average price is $119.21 and its 200 day moving average price is $118.77. Alexandria Real Estate Equities, Inc. has a 1 year low of $90.73 and a 1 year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The business had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.26 earnings per share. On average, research analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is 485.98%.

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.