Parnassus Investments LLC Sells 93,277 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Parnassus Investments LLC lowered its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 26.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,524 shares of the real estate investment trust’s stock after selling 93,277 shares during the quarter. Parnassus Investments LLC owned about 0.15% of Alexandria Real Estate Equities worth $31,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARE. CANADA LIFE ASSURANCE Co boosted its stake in Alexandria Real Estate Equities by 2.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock valued at $41,482,000 after acquiring an additional 9,187 shares in the last quarter. BDF Gestion purchased a new position in Alexandria Real Estate Equities during the 2nd quarter worth $2,560,000. Kingswood Wealth Advisors LLC increased its position in Alexandria Real Estate Equities by 99.2% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 9,660 shares of the real estate investment trust’s stock valued at $1,130,000 after buying an additional 4,811 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after buying an additional 1,411,304 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Alexandria Real Estate Equities by 6.3% in the first quarter. Clearbridge Investments LLC now owns 450,275 shares of the real estate investment trust’s stock worth $58,045,000 after acquiring an additional 26,860 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARE. Wedbush dropped their target price on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $112.00 in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price target (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. JMP Securities reduced their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research note on Friday. Finally, Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their target price for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.30.

Alexandria Real Estate Equities Trading Down 0.3 %

Shares of NYSE ARE opened at $105.22 on Tuesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $18.39 billion, a PE ratio of 64.16, a PEG ratio of 3.95 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a twelve month low of $102.24 and a twelve month high of $135.45. The stock has a fifty day simple moving average of $116.84 and a 200-day simple moving average of $117.75.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The firm had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Monday, September 30th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.94%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 317.07%.

Alexandria Real Estate Equities Company Profile

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.