OVERSEA CHINESE BANKING Corp Ltd Reduces Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 46.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,651 shares of the real estate investment trust's stock after selling 23,667 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Alexandria Real Estate Equities were worth $3,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ARE. Catalyst Capital Advisors LLC bought a new position in Alexandria Real Estate Equities during the third quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $30,000. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 154 shares during the period. Rothschild Investment LLC bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC lifted its stake in Alexandria Real Estate Equities by 144.0% in the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Stock Up 0.6 %

Shares of NYSE ARE traded up $0.70 during trading on Wednesday, reaching $109.03. The company had a trading volume of 864,735 shares, compared to its average volume of 991,518. The stock has a market cap of $19.05 billion, a PE ratio of 66.48, a P/E/G ratio of 4.05 and a beta of 1.16. The business's 50-day moving average is $117.67 and its 200 day moving average is $118.05. Alexandria Real Estate Equities, Inc. has a 12-month low of $98.55 and a 12-month high of $135.45. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56.

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

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, September 30th. Alexandria Real Estate Equities's payout ratio is 317.07%.

Analysts Set New Price Targets

A number of research firms have weighed in on ARE. Evercore ISI lowered their price objective on 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $125.00 price target (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Bank of America cut shares of Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Citigroup lowered shares of Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and dropped their target price for the company from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Wedbush decreased their price target on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of "Hold" and a consensus price target of $131.10.

About Alexandria Real Estate Equities

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.