Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lessened its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 26.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 264,524 shares of the real estate investment trust’s stock after selling 93,277 shares during the quarter. Parnassus Investments LLC’s holdings in Alexandria Real Estate Equities were worth $31,412,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Alexandria Real Estate Equities in the 3rd quarter valued at $9,032,000. Napa Wealth Management raised its stake in Alexandria Real Estate Equities by 19.2% in the third quarter. Napa Wealth Management now owns 2,537 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 408 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in Alexandria Real Estate Equities during the 3rd quarter worth about $441,000. Natixis Advisors LLC boosted its position in shares of Alexandria Real Estate Equities by 10.0% during the 3rd quarter. Natixis Advisors LLC now owns 120,098 shares of the real estate investment trust’s stock worth $14,262,000 after acquiring an additional 10,917 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Alexandria Real Estate Equities by 9.8% in the 3rd quarter. Empowered Funds LLC now owns 2,903 shares of the real estate investment trust’s stock valued at $345,000 after acquiring an additional 259 shares during the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE opened at $105.22 on Tuesday. The firm’s 50 day moving average is $116.84 and its two-hundred day moving average is $117.75. The firm has a market capitalization of $18.39 billion, a P/E ratio of 64.16, a PEG ratio of 3.95 and a beta of 1.16. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. Alexandria Real Estate Equities, Inc. has a 52 week low of $102.24 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The firm had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. During the same period in the previous year, the firm earned $2.26 EPS. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced 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 of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.94%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 317.07%.

Analyst Ratings Changes

ARE has been the subject of several recent analyst reports. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Evercore ISI lowered their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Finally, Robert W. Baird reduced their price target on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $127.30.

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.