Lazard Asset Management LLC Makes New $13.54 Million Investment in Alexandria Real Estate Equities, Inc. $ARE

Lazard Asset Management LLC purchased a new position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the first quarter, HoldingsChannel reports. The institutional investor purchased 291,687 shares of the real estate investment trust’s stock, valued at approximately $13,540,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARE. BOKF NA raised its stake in shares of Alexandria Real Estate Equities by 6,033.3% during the 3rd quarter. BOKF NA now owns 368 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 362 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Alexandria Real Estate Equities during the second quarter worth about $30,000. CIBC Private Wealth Group LLC raised its position in Alexandria Real Estate Equities by 109.6% during the third quarter. CIBC Private Wealth Group LLC now owns 436 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 228 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Alexandria Real Estate Equities during the 2nd quarter valued at approximately $33,000. Finally, Quarry LP acquired a new position in Alexandria Real Estate Equities in the third quarter valued at approximately $62,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

Insider Activity at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, CFO Marc E. Binda sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $54.00, for a total transaction of $108,000.00. Following the sale, the chief financial officer owned 188,264 shares of the company’s stock, valued at $10,166,256. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Joel S. Marcus bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average cost of $42.72 per share, for a total transaction of $320,400.00. Following the acquisition, the chairman owned 587,724 shares of the company’s stock, valued at $25,107,569.28. This represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.35% of the stock is owned by company insiders.

Alexandria Real Estate Equities Trading Down 0.3%

Shares of ARE stock opened at $53.86 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.65. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $88.24. The firm’s 50 day moving average price is $50.90 and its two-hundred day moving average price is $50.40. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of -8.59, a price-to-earnings-growth ratio of 6.58 and a beta of 1.17.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $1.73 EPS for the quarter, hitting the consensus estimate of $1.73. The business had revenue of $671.02 million for the quarter, compared to analysts’ expectations of $684.78 million. Alexandria Real Estate Equities had a negative return on equity of 5.21% and a negative net margin of 36.03%.The company’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.30 earnings per share. On average, analysts anticipate that Alexandria Real Estate Equities, Inc. will post 6.36 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.88 annualized dividend and a yield of 5.3%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently -45.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group cut their target price on Alexandria Real Estate Equities from $57.00 to $47.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $53.00 price target on shares of Alexandria Real Estate Equities in a research note on Thursday, June 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $52.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday, May 19th. Royal Bank Of Canada cut their price objective on Alexandria Real Estate Equities from $60.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 5th. Finally, Evercore boosted their price objective on Alexandria Real Estate Equities from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities has an average rating of “Reduce” and a consensus target price of $51.08.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company’s properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.