Patriot Financial Group Insurance Agency LLC Purchases Shares of 2,706 Alexandria Real Estate Equities Inc (ARE)

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Alexandria Real Estate Equities Inc (NYSE:ARE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,706 shares of the real estate investment trust’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC increased its holdings in Alexandria Real Estate Equities by 142.3% during the 2nd quarter. Advisors Preferred LLC now owns 860 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 505 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $164,000. NumerixS Investment Technologies Inc acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $177,000. Advisor Partners LLC acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $205,000. Finally, Private Advisor Group LLC acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $206,000.

Several research analysts have recently issued reports on ARE shares. Citigroup upped their price objective on Alexandria Real Estate Equities from $127.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Barclays upped their price objective on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Monday. Finally, Evercore ISI set a $148.00 price objective on Alexandria Real Estate Equities and gave the stock a “buy” rating in a research report on Monday, October 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $123.26.

Shares of NYSE ARE opened at $123.95 on Wednesday. The stock has a market capitalization of $12.81 billion, a P/E ratio of 20.59, a PEG ratio of 3.04 and a beta of 0.70. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.81. Alexandria Real Estate Equities Inc has a 52-week low of $114.00 and a 52-week high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $1.50. The firm had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $343.42 million. Alexandria Real Estate Equities had a return on equity of 6.66% and a net margin of 34.48%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. As a group, research analysts forecast that Alexandria Real Estate Equities Inc will post 6.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.93 dividend. The ex-dividend date was Thursday, September 27th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.00%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 61.79%.

In related news, insider Joel S. Marcus sold 29,500 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $126.87, for a total value of $3,742,665.00. Following the completion of the sale, the insider now directly owns 582,255 shares of the company’s stock, valued at approximately $73,870,691.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Andrews sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $127.70, for a total value of $1,277,000.00. Following the completion of the sale, the insider now directly owns 176,916 shares of the company’s stock, valued at $22,592,173.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,250 shares of company stock valued at $9,731,103. Insiders own 1.41% of the company’s stock.

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 $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.

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

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