Sumitomo Life Insurance Co. Boosts Holdings in Alexandria Real Estate Equities Inc (NYSE:ARE)

Sumitomo Life Insurance Co. raised its holdings in Alexandria Real Estate Equities Inc (NYSE:ARE) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,981 shares of the real estate investment trust’s stock after buying an additional 444 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Alexandria Real Estate Equities were worth $1,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ARE. Principal Financial Group Inc. grew its holdings in Alexandria Real Estate Equities by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 5,093,085 shares of the real estate investment trust’s stock valued at $726,070,000 after buying an additional 356,441 shares during the period. Geode Capital Management LLC grew its holdings in shares of Alexandria Real Estate Equities by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 1,694,216 shares of the real estate investment trust’s stock worth $194,957,000 after purchasing an additional 168,461 shares during the period. Resolution Capital Ltd grew its holdings in shares of Alexandria Real Estate Equities by 9.8% during the 2nd quarter. Resolution Capital Ltd now owns 1,665,066 shares of the real estate investment trust’s stock worth $234,924,000 after purchasing an additional 148,349 shares during the period. Northern Trust Corp grew its holdings in shares of Alexandria Real Estate Equities by 5.4% during the 1st quarter. Northern Trust Corp now owns 1,862,697 shares of the real estate investment trust’s stock worth $265,546,000 after purchasing an additional 95,716 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Alexandria Real Estate Equities by 18.6% during the 1st quarter. California Public Employees Retirement System now owns 483,304 shares of the real estate investment trust’s stock worth $68,900,000 after purchasing an additional 75,812 shares during the period. Institutional investors own 96.60% of the company’s stock.

ARE has been the subject of a number of research reports. GMP Securities reiterated an “average” rating and set a $26.00 target price on shares of Alexandria Real Estate Equities in a report on Thursday, August 1st. ValuEngine cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Citigroup boosted their target price on Alexandria Real Estate Equities from $157.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $100.50.

Alexandria Real Estate Equities stock traded down $0.56 during midday trading on Wednesday, hitting $143.72. 142,089 shares of the company were exchanged, compared to its average volume of 695,586. The stock has a fifty day simple moving average of $144.43. The company has a market cap of $16.43 billion, a P/E ratio of 21.78, a PEG ratio of 4.79 and a beta of 0.74. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.76. Alexandria Real Estate Equities Inc has a fifty-two week low of $109.04 and a fifty-two week high of $153.51.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.04). The company had revenue of $373.90 million for the quarter, compared to analyst estimates of $366.81 million. Alexandria Real Estate Equities had a return on equity of 5.00% and a net margin of 28.05%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. On average, sell-side analysts predict that Alexandria Real Estate Equities Inc will post 6.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, June 27th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. This represents a $4.00 annualized dividend and a yield of 2.78%. Alexandria Real Estate Equities’s payout ratio is 60.61%.

In related news, major shareholder Real Estate Equitie Alexandria purchased 975,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average cost of $10.00 per share, with a total value of $9,750,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joel S. Marcus sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $145.10, for a total value of $2,902,000.00. Following the transaction, the insider now directly owns 495,712 shares in the company, valued at $71,927,811.20. The disclosure for this sale can be found here. Insiders have sold a total of 36,225 shares of company stock worth $5,243,680 over the last three months. 1.43% of the stock is currently owned by corporate insiders.

Alexandria Real Estate Equities Profile

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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 $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.

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

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