Short Interest in Alexandria Real Estate Equities, Inc. (NYSE:ARE) Drops By 7.6%

Alexandria Real Estate Equities, Inc. (NYSE:ARE - Get Free Report) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,060,000 shares, a drop of 7.6% from the October 15th total of 3,310,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 2.7 days.

Alexandria Real Estate Equities Stock Down 1.5 %

ARE traded down $1.57 on Monday, hitting $104.01. 663,050 shares of the company were exchanged, compared to its average volume of 991,334. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 64.38, a price-to-earnings-growth ratio of 3.95 and a beta of 1.16. The firm has a 50-day moving average price of $117.10 and a two-hundred day moving average price of $117.84. Alexandria Real Estate Equities has a twelve month low of $102.24 and a twelve month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The firm had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. During the same quarter in the previous year, the firm posted $2.26 EPS. The business's revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities's payout ratio is 317.07%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MidWestOne Financial Group Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 17.7% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 12,760 shares of the real estate investment trust's stock valued at $1,515,000 after purchasing an additional 1,916 shares during the last quarter. Vestcor Inc grew its position in shares of Alexandria Real Estate Equities by 321.8% during the third quarter. Vestcor Inc now owns 28,937 shares of the real estate investment trust's stock worth $3,436,000 after acquiring an additional 22,077 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Alexandria Real Estate Equities by 9.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 49,651 shares of the real estate investment trust's stock valued at $5,896,000 after acquiring an additional 4,161 shares during the period. MML Investors Services LLC boosted its stake in Alexandria Real Estate Equities by 217.9% during the 3rd quarter. MML Investors Services LLC now owns 20,087 shares of the real estate investment trust's stock worth $2,385,000 after purchasing an additional 13,769 shares during the period. Finally, Kensington Investment Counsel LLC purchased a new position in Alexandria Real Estate Equities during the 3rd quarter worth $240,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI dropped their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and cut their price target for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Bank of America cut Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $151.00 to $126.00 in a report on Monday, July 29th. JMP Securities reduced their target price on Alexandria Real Estate Equities from $140.00 to $130.00 and set a "market outperform" rating on the stock in a research report on Friday. Finally, Citigroup cut Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $127.30.

Alexandria Real Estate Equities Company 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.