Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Comerica Bank

Comerica Bank cut its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:AREGet Rating) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,353 shares of the real estate investment trust’s stock after selling 2,644 shares during the quarter. Comerica Bank’s holdings in Alexandria Real Estate Equities were worth $3,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Financial Management Professionals Inc. boosted its position in Alexandria Real Estate Equities by 11.5% during the third quarter. Financial Management Professionals Inc. now owns 1,108 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 114 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in Alexandria Real Estate Equities by 46.3% in the 3rd quarter. Bourgeon Capital Management LLC now owns 40,122 shares of the real estate investment trust’s stock valued at $5,625,000 after purchasing an additional 12,690 shares during the last quarter. Naviter Wealth LLC boosted its holdings in Alexandria Real Estate Equities by 26.2% in the 3rd quarter. Naviter Wealth LLC now owns 4,650 shares of the real estate investment trust’s stock valued at $657,000 after purchasing an additional 964 shares during the last quarter. Avitas Wealth Management LLC acquired a new position in Alexandria Real Estate Equities in the 3rd quarter valued at about $1,082,000. Finally, CWM LLC boosted its holdings in Alexandria Real Estate Equities by 67.2% in the 3rd quarter. CWM LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $397,000 after purchasing an additional 1,138 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Marc E. Binda sold 3,316 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $154.00, for a total transaction of $510,664.00. Following the sale, the executive vice president now directly owns 49,413 shares of the company’s stock, valued at approximately $7,609,602. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alexandria Real Estate Equities news, EVP Marc E. Binda sold 3,316 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $154.00, for a total value of $510,664.00. Following the sale, the executive vice president now directly owns 49,413 shares of the company’s stock, valued at approximately $7,609,602. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Peter M. Moglia sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $151.89, for a total transaction of $303,780.00. Following the completion of the sale, the chief executive officer now directly owns 167,099 shares in the company, valued at $25,380,667.11. The disclosure for this sale can be found here. Insiders have sold a total of 34,253 shares of company stock valued at $5,179,946 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $155.57 on Tuesday. The firm’s 50 day moving average price is $149.03 and its 200-day moving average price is $149.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.37 and a current ratio of 0.37. Alexandria Real Estate Equities, Inc. has a one year low of $126.74 and a one year high of $210.70. The firm has a market cap of $25.53 billion, a P/E ratio of 47.29, a P/E/G ratio of 2.26 and a beta of 0.91.

Alexandria Real Estate Equities (NYSE:AREGet Rating) last announced its earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.01). Alexandria Real Estate Equities had a return on equity of 3.03% and a net margin of 21.73%. The business had revenue of $659.90 million for the quarter, compared to analysts’ expectations of $657.48 million. During the same period in the previous year, the company earned $1.95 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts predict that Alexandria Real Estate Equities, Inc. will post 8.41 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $1.21 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. This represents a $4.84 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, December 29th. Alexandria Real Estate Equities’s dividend payout ratio is presently 147.11%.

Analyst Upgrades and Downgrades

ARE has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Alexandria Real Estate Equities from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, November 10th. BTIG Research decreased their target price on shares of Alexandria Real Estate Equities from $233.00 to $186.00 in a report on Wednesday, October 19th. Evercore ISI decreased their target price on shares of Alexandria Real Estate Equities to $168.00 in a report on Friday, December 2nd. Robert W. Baird boosted their target price on shares of Alexandria Real Estate Equities from $151.00 to $162.00 in a report on Friday, December 2nd. Finally, JMP Securities restated a “buy” rating and issued a $180.00 price objective on shares of Alexandria Real Estate Equities in a report on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and an average target price of $173.43.

About Alexandria Real Estate Equities

(Get Rating)

Alexandria Real Estate Equities, Inc is an urban office real estate investment trust. The firm engages in the ownership, operation, development, and redevelopment of life science and technology properties. It also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations.

See Also

Want to see what other hedge funds are holding ARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alexandria Real Estate Equities, Inc. (NYSE:AREGet Rating).

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

Receive News & Ratings for Alexandria Real Estate Equities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexandria Real Estate Equities and related companies with MarketBeat.com's FREE daily email newsletter.