Zurich Insurance Group Ltd FI cut its holdings in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 27.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,760 shares of the real estate investment trust’s stock after selling 12,603 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Alexandria Real Estate Equities were worth $4,133,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Alexandria Real Estate Equities by 3.0% during the second quarter. BlackRock Inc. now owns 10,947,075 shares of the real estate investment trust’s stock worth $1,381,196,000 after purchasing an additional 323,298 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alexandria Real Estate Equities by 15.5% during the first quarter. Principal Financial Group Inc. now owns 4,046,501 shares of the real estate investment trust’s stock valued at $505,368,000 after buying an additional 543,870 shares during the last quarter. PGGM Investments grew its holdings in shares of Alexandria Real Estate Equities by 8.6% during the second quarter. PGGM Investments now owns 2,703,000 shares of the real estate investment trust’s stock valued at $341,038,000 after buying an additional 215,000 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Alexandria Real Estate Equities by 11.0% during the second quarter. Centersquare Investment Management LLC now owns 1,725,039 shares of the real estate investment trust’s stock valued at $217,648,000 after buying an additional 171,115 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Alexandria Real Estate Equities by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,503,896 shares of the real estate investment trust’s stock valued at $189,748,000 after buying an additional 42,687 shares during the last quarter. 98.98% of the stock is currently owned by institutional investors and hedge funds.

In other Alexandria Real Estate Equities news, CEO Stephen Richardson sold 7,500 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $126.66, for a total value of $949,950.00. Following the sale, the chief executive officer now directly owns 152,392 shares of the company’s stock, valued at $19,301,970.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Andrews sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $127.70, for a total transaction of $1,277,000.00. Following the completion of the sale, the insider now directly owns 176,916 shares in the company, valued at $22,592,173.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,250 shares of company stock worth $9,731,103. 1.41% of the stock is owned by corporate insiders.

Shares of ARE opened at $127.53 on Tuesday. The firm has a market cap of $13.43 billion, a PE ratio of 21.18, a P/E/G ratio of 3.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.39 and a current ratio of 0.39. Alexandria Real Estate Equities Inc has a 1-year low of $114.00 and a 1-year high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.64. Alexandria Real Estate Equities had a net margin of 22.86% and a return on equity of 4.36%. The firm had revenue of $325.00 million for the quarter, compared to analyst estimates of $331.27 million. During the same period in the previous year, the company earned $1.50 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. sell-side analysts anticipate that Alexandria Real Estate Equities Inc will post 6.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, September 27th. Alexandria Real Estate Equities’s payout ratio is 61.79%.

A number of brokerages have recently weighed in on ARE. Barclays boosted their price objective on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, July 17th. Citigroup boosted their price objective on shares of Alexandria Real Estate Equities from $127.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alexandria Real Estate Equities from $130.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, May 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $108.93.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.

See Also: Index Funds

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

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