Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC cut its holdings in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,524 shares of the real estate investment trust's stock after selling 93,277 shares during the quarter. Parnassus Investments LLC owned 0.15% of Alexandria Real Estate Equities worth $31,412,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Catalyst Capital Advisors LLC purchased a new stake in Alexandria Real Estate Equities during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Alexandria Real Estate Equities in the third quarter worth about $30,000. UMB Bank n.a. raised its position in Alexandria Real Estate Equities by 132.8% during the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Alexandria Real Estate Equities in the 2nd quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC grew its position in shares of 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 during the last quarter. 96.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARE has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 target price (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Wedbush dropped their price target on Alexandria Real Estate Equities from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI decreased their price objective on Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup cut 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 report on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $127.30.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE traded down $0.77 during midday trading on Tuesday, hitting $104.45. The stock had a trading volume of 1,003,345 shares, compared to its average volume of 996,215. Alexandria Real Estate Equities, Inc. has a 1 year low of $102.24 and a 1 year high of $135.45. The company has a market capitalization of $18.25 billion, a PE ratio of 64.03, a P/E/G ratio of 3.95 and a beta of 1.16. The stock has a 50 day simple moving average of $116.84 and a 200-day simple moving average of $117.75. 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 posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). The business had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. Alexandria Real Estate Equities's revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. On average, sell-side analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 annualized dividend and a yield of 4.98%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is 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.