Legacy Wealth Asset Management LLC Cuts Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Legacy Wealth Asset Management LLC lowered its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 28.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,152 shares of the real estate investment trust’s stock after selling 1,658 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. lifted its position in shares of Alexandria Real Estate Equities by 132.8% during the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. Rothschild Investment LLC purchased a new position in Alexandria Real Estate Equities during the second quarter valued at $33,000. Global X Japan Co. Ltd. acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter valued at about $43,000. M&R Capital Management Inc. purchased a new stake in shares of Alexandria Real Estate Equities during the third quarter worth about $50,000. Finally, Hilltop National Bank raised its position in shares of Alexandria Real Estate Equities by 27.0% during the 2nd quarter. Hilltop National Bank now owns 686 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 146 shares during the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Performance

Alexandria Real Estate Equities stock opened at $113.02 on Friday. The firm has a 50 day simple moving average of $119.17 and a 200-day simple moving average of $118.60. The stock has a market cap of $19.77 billion, a price-to-earnings ratio of 105.63, 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 current ratio of 0.23 and a quick ratio of 0.23. 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 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 0.68% and a net margin of 5.09%. The business had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. During the same period last year, the business earned $2.26 EPS. Alexandria Real Estate Equities’s revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $130.00 to $125.00 in a report on Friday, September 13th. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $151.00 to $126.00 in a report on Monday, July 29th. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target (down from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday. Eight investment 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, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average price target of $131.22.

About Alexandria Real Estate Equities

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.