Naviter Wealth LLC Purchases 900 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Naviter Wealth LLC grew its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 7.2% during the third quarter, Holdings Channel reports. The institutional investor owned 13,343 shares of the real estate investment trust’s stock after purchasing an additional 900 shares during the quarter. Naviter Wealth LLC’s holdings in Alexandria Real Estate Equities were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ARE. Mather Group LLC. purchased a new stake in shares of Alexandria Real Estate Equities in the first quarter worth about $30,000. UMB Bank n.a. increased its holdings in 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 worth $32,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC purchased a new stake in Alexandria Real Estate Equities in the 2nd quarter worth approximately $33,000. Riverview Trust Co bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at $37,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Alexandria Real Estate Equities during the 2nd quarter valued at $43,000. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Down 1.2 %

Shares of NYSE ARE opened at $121.22 on Friday. The firm’s fifty day moving average is $118.64 and its 200 day moving average is $118.94. Alexandria Real Estate Equities, Inc. has a 52 week low of $90.73 and a 52 week high of $135.45. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 113.29, a PEG ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last released 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 net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 EPS. On average, equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARE. Royal Bank of Canada lowered their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $130.00 to $125.00 in a research report on Friday, September 13th. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI increased their price target on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.22.

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.