Eventide Asset Management LLC Sells 5,500 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Eventide Asset Management LLC cut its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:AREGet Rating) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,300 shares of the real estate investment trust’s stock after selling 5,500 shares during the quarter. Eventide Asset Management LLC’s holdings in Alexandria Real Estate Equities were worth $4,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. bought a new position in Alexandria Real Estate Equities during the fourth quarter worth about $26,000. Confluence Wealth Services Inc. bought a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at approximately $27,000. Consolidated Planning Corp bought a new position in shares of Alexandria Real Estate Equities in the third quarter valued at approximately $39,000. Cordasco Financial Network bought a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at approximately $48,000. Finally, Covestor Ltd purchased a new stake in Alexandria Real Estate Equities in the fourth quarter valued at approximately $55,000. 94.49% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Marc E. Binda sold 3,234 shares of the stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $191.09, for a total transaction of $617,985.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Richardson sold 5,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $171.47, for a total value of $857,350.00. Following the transaction, the chief executive officer now owns 175,602 shares of the company’s stock, valued at $30,110,474.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,474 shares of company stock valued at $2,662,311. 1.12% of the stock is currently owned by corporate insiders.

ARE has been the topic of a number of recent analyst reports. TheStreet downgraded shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a research note on Friday, March 11th. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $180.80.

NYSE:ARE traded up $0.66 during mid-day trading on Wednesday, reaching $160.91. The company’s stock had a trading volume of 29,373 shares, compared to its average volume of 1,036,508. Alexandria Real Estate Equities, Inc. has a 12-month low of $156.94 and a 12-month high of $224.95. The firm’s fifty day moving average price is $186.82 and its two-hundred day moving average price is $196.60. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.51. The stock has a market cap of $26.26 billion, a P/E ratio of 57.44, a PEG ratio of 2.43 and a beta of 0.84.

Alexandria Real Estate Equities (NYSE:AREGet Rating) last announced its quarterly earnings data on Monday, April 25th. The real estate investment trust reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.71). The company had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. Alexandria Real Estate Equities had a net margin of 18.30% and a return on equity of 2.28%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. Analysts predict that Alexandria Real Estate Equities, Inc. will post 8.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.86%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 164.88%.

About Alexandria Real Estate Equities (Get Rating)

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet ("SF").

Further Reading

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

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