Fulton Bank N.A. Boosts Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Fulton Bank N.A. lifted its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,342 shares of the real estate investment trust’s stock after buying an additional 268 shares during the quarter. Fulton Bank N.A.’s holdings in Alexandria Real Estate Equities were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARE. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth about $2,086,085,000. M&G Plc purchased a new stake in shares of Alexandria Real Estate Equities during the first quarter worth about $204,001,000. Jennison Associates LLC grew its holdings in shares of Alexandria Real Estate Equities by 180.3% during the fourth quarter. Jennison Associates LLC now owns 1,010,943 shares of the real estate investment trust’s stock worth $128,157,000 after buying an additional 650,248 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Alexandria Real Estate Equities by 153.0% during the first quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after buying an additional 470,076 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Alexandria Real Estate Equities during the first quarter worth about $55,075,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Trading Up 2.8 %

ARE stock traded up $3.11 during midday trading on Tuesday, reaching $115.25. 1,167,170 shares of the company’s stock traded hands, compared to its average volume of 934,415. The company has a market capitalization of $20.16 billion, a P/E ratio of 109.27, a PEG ratio of 4.00 and a beta of 1.15. 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 fifty-two week low of $90.73 and a fifty-two week high of $135.45. The business has a 50-day moving average price of $118.00 and a two-hundred day moving average price of $120.44.

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

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.30 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, June 28th. Alexandria Real Estate Equities’s payout ratio is presently 485.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lowered 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 report on Monday. Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the company from $136.00 to $127.00 in a report on Friday. Finally, Evercore ISI downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to an “inline” rating and lowered their target price for the company from $133.00 to $126.00 in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $131.22.

Insider Transactions at Alexandria Real Estate Equities

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s 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 directly owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.15% of the company’s stock.

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.