Freedom Investment Management Inc. Sells 623 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Freedom Investment Management Inc. cut its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,748 shares of the real estate investment trust’s stock after selling 623 shares during the quarter. Freedom Investment Management Inc.’s holdings in Alexandria Real Estate Equities were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Alexandria Real Estate Equities in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its holdings in Alexandria Real Estate Equities by 132.8% in the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 154 shares during the period. Rothschild Investment LLC bought a new position in Alexandria Real Estate Equities in the 2nd quarter worth $33,000. Finally, Venturi Wealth Management LLC increased its stake in Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 180 shares in the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARE has been the subject of a number of recent analyst reports. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Wedbush dropped their target price on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reduced their price target on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $126.73.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $110.17 on Friday. The business’s 50 day moving average price is $114.35 and its 200-day moving average price is $117.07. Alexandria Real Estate Equities, Inc. has a fifty-two week low of $102.89 and a fifty-two week high of $135.45. The company has a market cap of $19.25 billion, a P/E ratio of 67.18, a P/E/G ratio of 4.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The firm had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 EPS. Sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is currently 317.07%.

Alexandria Real Estate Equities 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.