Huntington National Bank Has $1.75 Million Holdings in Alexandria Real Estate Equities Inc (NYSE:ARE)

Huntington National Bank reduced its position in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,263 shares of the real estate investment trust’s stock after selling 716 shares during the period. Huntington National Bank’s holdings in Alexandria Real Estate Equities were worth $1,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Alexandria Real Estate Equities by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 742,207 shares of the real estate investment trust’s stock valued at $93,362,000 after acquiring an additional 98,882 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alexandria Real Estate Equities by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 1,102,853 shares of the real estate investment trust’s stock valued at $138,729,000 after acquiring an additional 19,090 shares during the last quarter. CI Investments Inc. raised its stake in shares of Alexandria Real Estate Equities by 37.6% in the third quarter. CI Investments Inc. now owns 980,879 shares of the real estate investment trust’s stock valued at $123,385,000 after acquiring an additional 268,123 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Alexandria Real Estate Equities by 3.8% in the third quarter. Canada Pension Plan Investment Board now owns 30,377 shares of the real estate investment trust’s stock valued at $3,821,000 after acquiring an additional 1,100 shares during the last quarter. Finally, United Services Automobile Association raised its stake in shares of Alexandria Real Estate Equities by 2.4% in the third quarter. United Services Automobile Association now owns 33,675 shares of the real estate investment trust’s stock valued at $4,236,000 after acquiring an additional 790 shares during the last quarter. 98.65% of the stock is currently owned by institutional investors.

In other news, COO Lawrence J. Diamond sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $142.58, for a total value of $142,580.00. Following the completion of the transaction, the chief operating officer now owns 59,217 shares of the company’s stock, valued at approximately $8,443,159.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Hunter Klein sold 1,103 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $142.50, for a total transaction of $157,177.50. Following the completion of the transaction, the director now directly owns 10,617 shares of the company’s stock, valued at approximately $1,512,922.50. The disclosure for this sale can be found here. Insiders have sold a total of 123,824 shares of company stock valued at $16,878,086 in the last ninety days. Company insiders own 1.43% of the company’s stock.

ARE has been the subject of a number of research reports. CIBC reissued a “buy” rating and issued a $23.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday, January 15th. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a report on Tuesday, January 29th. ValuEngine raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Mitsubishi UFJ Financial Group raised their price target on shares of Alexandria Real Estate Equities to $132.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Finally, Canaccord Genuity reissued an “average” rating and issued a $25.00 price target on shares of Alexandria Real Estate Equities in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alexandria Real Estate Equities currently has a consensus rating of “Buy” and a consensus target price of $111.38.

Shares of Alexandria Real Estate Equities stock traded up $1.38 during midday trading on Friday, reaching $142.30. The company had a trading volume of 532,503 shares, compared to its average volume of 672,513. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.28 and a quick ratio of 0.29. Alexandria Real Estate Equities Inc has a 1-year low of $109.04 and a 1-year high of $144.46. The firm has a market cap of $16.07 billion, a P/E ratio of 21.56, a P/E/G ratio of 4.66 and a beta of 0.90.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, April 29th. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.57). Alexandria Real Estate Equities had a return on equity of 4.91% and a net margin of 27.29%. The business had revenue of $358.80 million for the quarter, compared to analyst estimates of $356.93 million. During the same period in the prior year, the firm posted $1.62 EPS. Alexandria Real Estate Equities’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that Alexandria Real Estate Equities Inc will post 6.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, March 28th. Alexandria Real Estate Equities’s dividend payout ratio is presently 58.79%.

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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 $18.4 billion and an asset base in North America of 33.1 million square feet ("SF") as of December 31, 2018.

Further Reading: Asset Allocation, Balancing Your Investments

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

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