Municipal Employees Retirement System of Michigan Invests $326,000 in Alexandria Real Estate Equities Inc (ARE)

Municipal Employees Retirement System of Michigan purchased a new stake in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,830 shares of the real estate investment trust’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARE. Riverview Trust Co bought a new position in shares of Alexandria Real Estate Equities during the 4th quarter valued at $32,000. We Are One Seven LLC bought a new position in shares of Alexandria Real Estate Equities during the 4th quarter valued at $59,000. SRS Capital Advisors Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 53.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 683 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 239 shares during the period. Loeb Partners Corp bought a new position in shares of Alexandria Real Estate Equities during the 4th quarter valued at $115,000. Finally, ETF Managers Group LLC increased its stake in shares of Alexandria Real Estate Equities by 18.6% in the 4th quarter. ETF Managers Group LLC now owns 1,069 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 168 shares in the last quarter. 98.65% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on ARE. Barclays lowered Alexandria Real Estate Equities from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $130.00 to $136.00 in a research note on Thursday, April 4th. Canaccord Genuity restated an “average” rating and issued a $25.00 price objective on shares of Alexandria Real Estate Equities in a research note on Thursday, March 7th. Mitsubishi UFJ Financial Group upped their price objective on Alexandria Real Estate Equities to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Monday, March 4th. Finally, ValuEngine upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Alexandria Real Estate Equities presently has a consensus rating of “Buy” and an average price target of $111.38.

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

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

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

In other news, insider Thomas J. Andrews sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $134.18, for a total transaction of $3,354,500.00. Following the completion of the transaction, the insider now owns 146,916 shares in the company, valued at $19,713,188.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen Richardson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $135.37, for a total value of $1,353,700.00. Following the transaction, the chief executive officer now owns 182,475 shares of the company’s stock, valued at approximately $24,701,640.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,824 shares of company stock valued at $16,878,086. Company insiders own 1.43% of the company’s stock.

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Alexandria Real Estate Equities Profile

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.

Featured Story: Debt-To-Equity Ratio

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

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