Fifth Third Bancorp Increases Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

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Fifth Third Bancorp increased its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 72.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,618 shares of the real estate investment trust’s stock after buying an additional 11,224 shares during the quarter. Fifth Third Bancorp’s holdings in Alexandria Real Estate Equities were worth $4,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Alexandria Real Estate Equities during the third quarter valued at approximately $214,000. Colony Capital Inc. grew its position in shares of Alexandria Real Estate Equities by 266.7% in the third quarter. Colony Capital Inc. now owns 5,500 shares of the real estate investment trust’s stock valued at $880,000 after purchasing an additional 4,000 shares in the last quarter. Acadian Asset Management LLC grew its position in Alexandria Real Estate Equities by 178.5% in the third quarter. Acadian Asset Management LLC now owns 1,008 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 646 shares during the period. CI Investments Inc. grew its position in Alexandria Real Estate Equities by 4.0% in the third quarter. CI Investments Inc. now owns 1,193,192 shares of the real estate investment trust’s stock worth $190,911,000 after acquiring an additional 45,590 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Alexandria Real Estate Equities in the third quarter worth approximately $417,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Shares of NYSE ARE opened at $164.14 on Friday. The stock has a market cap of $22.15 billion, a P/E ratio of 37.91, a PEG ratio of 4.41 and a beta of 0.79. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.63. Alexandria Real Estate Equities, Inc. has a 12-month low of $109.22 and a 12-month high of $177.70. The business’s fifty day simple moving average is $160.75 and its 200-day simple moving average is $162.03.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Saturday, October 31st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($1.20). Alexandria Real Estate Equities had a net margin of 29.07% and a return on equity of 4.79%. The company had revenue of $545.00 million during the quarter, compared to analyst estimates of $450.55 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Alexandria Real Estate Equities, Inc. will post 7.3 EPS for the current fiscal year.

In other news, CEO Peter M. Moglia sold 6,119 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $163.16, for a total transaction of $998,376.04. Following the completion of the sale, the chief executive officer now directly owns 170,014 shares in the company, valued at approximately $27,739,484.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.12% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on ARE. Berenberg Bank began coverage on Alexandria Real Estate Equities in a research report on Friday, October 2nd. They issued a “buy” rating and a $190.00 price objective for the company. UBS Group began coverage on Alexandria Real Estate Equities in a research report on Friday, October 16th. They issued a “neutral” rating and a $166.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Alexandria Real Estate Equities from $175.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $150.31.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $27.7 billion as of June 30, 2020, and an asset base in North America of 43.0 million square feet ("SF").

Further Reading: How is net asset value different from market price?

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

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