Bank of New York Mellon Corp Sells 137,165 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Bank of New York Mellon Corp reduced its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,183,431 shares of the real estate investment trust’s stock after selling 137,165 shares during the period. Bank of New York Mellon Corp owned 0.68% of Alexandria Real Estate Equities worth $138,426,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Alexandria Real Estate Equities in the 4th quarter valued at approximately $2,086,085,000. M&G Plc bought a new position in shares of Alexandria Real Estate Equities in the first quarter worth $204,001,000. Russell Investments Group Ltd. grew its position in shares of Alexandria Real Estate Equities by 153.0% in the first quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock valued at $100,205,000 after purchasing an additional 470,076 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Alexandria Real Estate Equities during the 1st quarter valued at $55,075,000. Finally, First Financial Bankshares Inc purchased a new stake in Alexandria Real Estate Equities during the 4th quarter worth about $31,260,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Evercore ISI cut shares of Alexandria Real Estate Equities from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $133.00 to $126.00 in a research note on Thursday, July 25th. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $136.00 to $127.00 in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average target price of $131.22.

Insider Transactions at Alexandria Real Estate Equities

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.15% of the company’s stock.

Alexandria Real Estate Equities Stock Up 0.4 %

Shares of NYSE:ARE opened at $121.65 on Tuesday. The firm has a market capitalization of $21.27 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 4.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. Alexandria Real Estate Equities, Inc. has a 52-week low of $90.73 and a 52-week high of $135.45. The firm has a fifty day moving average of $117.77 and a 200 day moving average of $119.80.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). The firm had revenue of $766.70 million during the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 earnings per share. As a group, research analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.48 EPS for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 4.27%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) 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.