MML Investors Services LLC raised its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 217.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,087 shares of the real estate investment trust's stock after purchasing an additional 13,769 shares during the quarter. MML Investors Services LLC's holdings in Alexandria Real Estate Equities were worth $2,385,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in shares of Alexandria Real Estate Equities in the third quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in shares of Alexandria Real Estate Equities in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its stake in shares of 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 purchasing an additional 154 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $33,000. Finally, Venturi Wealth Management LLC lifted its stake in Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company's stock.
NYSE ARE opened at $102.66 on Monday. The firm has a 50-day moving average price of $111.47 and a two-hundred day moving average price of $115.88. Alexandria Real Estate Equities, Inc. has a 12-month low of $101.39 and a 12-month high of $135.45. The company has a market capitalization of $17.94 billion, a P/E ratio of 62.60, a P/E/G ratio of 3.87 and a beta of 1.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56.
Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42). The company had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 EPS. Analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.
Alexandria Real Estate Equities announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Tuesday, December 31st. This is an increase from Alexandria Real Estate Equities's previous quarterly dividend of $1.30. Alexandria Real Estate Equities's payout ratio is 317.07%.
ARE has been the topic of several research analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 price objective (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and dropped their price target for the company from $135.00 to $112.00 in a research note on Friday, November 15th. Wedbush reiterated an "outperform" rating and issued a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Finally, JMP Securities reduced their target price on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $125.82.
Read Our Latest Stock Report on 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.
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