Principal Financial Group Inc. sells 151,735 shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Financial Advisors


Principal Financial Group cut its equity position in Alexandria Real Estate Equities (NYSE: ARE – Get Rating) by 2.6% in the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. . This institutional investor held 5,784,022 real estate investment trust shares after selling 151,735 shares during the period. Alexandria Realty shares account for about 0.6% of Principal Financial Group’s portfolio, making it the 23rd largest. Principal Financial Group, Inc. owned approximately 3.34% of Alexandria Real Estate shares valued at $842,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added or reduced stakes in the company. Raymond James Financial Services Advisors increased its stake in Alexandria Real Estate Equities by 8.6% in the first quarter. Raymond James Financial Services Advisors, Inc. acquired an additional 348 shares last quarter and now owns 4,377 real estate investment trust shares valued at $881,000. American Century Companies Inc. increased his stake in Alexandria Real Estate Stocks by 242.4% in the first quarter. American Century Companies Inc. acquired an additional 3,185 shares during the last quarter and now owns 4,499 real estate investment trust shares valued at $906,000. Cambridge Investment Research Advisors increased its holding of Alexandria Real Estate shares by 14.4% in the first quarter. Cambridge Investment Research Advisors acquired an additional 598 shares last quarter and now owns 4,753 real estate investment trust shares valued at $957,000. HighTower Advisors LLC increased his stake in Alexandria Real Estate Equities by 11.7% in the first quarter. Hightower Advisors LLC purchased an additional 620 shares during the last quarter and now owns 5,903 real estate investment trust shares valued at $1,187,000. Finally, Cetera Advisor Networks LLC increased his stake in Alexandria Real Estate Equities by 7.3% in the first quarter. Cetera Advisor Networks LLC purchased an additional 74 shares last quarter and now owns 1,086 real estate investment trust shares, valued at $219,000. Hedge funds and other institutional investors own 89.81% of the company’s shares.

Price Performance of Alexandria Real Estate Stocks

ARE fell $1.61 to $118.80 in Friday noon trading. The company averaged 164,296 shares traded against his 1,030,504 shares. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt to equity ratio of 0.51. The company has a market capitalization of $20.55 billion, a price/earnings multiple of 26.37x, a PEG ratio of 1.42x and a beta of 0.93x. Alexandria Real Estate Equities hit a 52-week low of $114.94 and a 52-week high of $172.65. His 50-day simple moving average for this company is $124.53 and his 200-day simple moving average is $142.39.

Alexandria Real Estate Equities (NYSE: ARE – Get Rating) last released quarterly earnings data on Tuesday, April 25. The real estate investment trust reported earnings per share (EPS) of $0.44 for the quarter, beating consensus expectations of $2.15 ($1.71). Alexandria Real Estate Equities had a return on equity of 3.77% and a net profit margin of 28.01%. The company had revenue of $700.8 million for the quarter, compared with analysts’ expectations of $686.7 million. Earnings per share for the business in the same period last year were $2.05. Alexandria Real Estate Equities revenues for the quarter increased 13.9% year over year. The average equity analyst forecast expects Alexandria Real Estate Equities to earn $8.94 per share this fiscal year.

Alexandria Real Estate Stock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid out on Friday, April 14. The record shareholder on Friday, March 31 was given a dividend of $1.21 per share. This equates to a dividend of $4.84 for him on an annualized basis and a dividend yield of 4.07% for him. The ex-dividend date was Thursday, March 30. Alexandria Real Estate Equities currently has a payout ratio of 106.84%.

Insider trading in Alexandria real estate stock

In other news from Alexandria Real Estate Equities, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities in a transaction on Monday, May 8. The shares were sold at an average price of $122.20 for a total transaction value of $916,500.00. Following the closing of the sale, the Chairman will own directly 351,354 shares of the company, valued at $42,935,458.80. The sale is disclosed in his SEC filings, which are available at this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street analysts forecast growth

ARE has been the subject of many recent analyst reports. JPMorgan Chase raised its target price on Alexandria Real Estate Equity shares from $176.00 to $177.00 in a research note on Thursday, Feb. 2, giving the stock an Overweight rating. Mizuho lowered its target price for Alexandria Real Estate Equity shares to $145.00 from $180.00 in a research report on Monday, April 24. StockNews.com downgraded Alexandria Real Estate Equities shares from a ‘hold’ rating to a ‘sell’ rating in a research note on Wednesday, May 3. Evercore ISI lowered its price target on Alexandria Real Estate Equity shares from $155.00 to $144.00 and assigned an Outperform rating to the stock in a research note on Monday, March 27. Finally, Robert W. Baird raised his price target on Alexandria Real Estate Equities stock from $162.00 to $174.00, giving the company an “Outperform” rating in a research note on Thursday, Feb. 2. gave One investment analyst rated the company a sell, one a hold, and six buys. According to MarketBeat.com data, the company has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Overview of Alexandria Real Estate Co., Ltd.

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Alexandria Real Estate Equities, Inc. is in the business of providing space for lease. The company is also the owner, operator and developer of life sciences, agricultural technology and technology campuses located in Greater Boston, San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and the Research Triangle.

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