Thrivent Financial for Lutherans Reduces Stock Position in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Thrivent Financial for Lutherans decreased its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) by 42.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 609,557 shares of the real estate investment trust's stock after selling 441,434 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.35% of Alexandria Real Estate Equities worth $72,385,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC bought a new position in Alexandria Real Estate Equities in the third quarter valued at about $441,000. Natixis Advisors LLC lifted its holdings in Alexandria Real Estate Equities by 10.0% in the third quarter. Natixis Advisors LLC now owns 120,098 shares of the real estate investment trust's stock valued at $14,262,000 after acquiring an additional 10,917 shares during the period. Empowered Funds LLC raised its stake in shares of Alexandria Real Estate Equities by 9.8% in the third quarter. Empowered Funds LLC now owns 2,903 shares of the real estate investment trust's stock worth $345,000 after buying an additional 259 shares during the period. CIBC Asset Management Inc raised its stake in shares of Alexandria Real Estate Equities by 67.3% in the third quarter. CIBC Asset Management Inc now owns 37,276 shares of the real estate investment trust's stock worth $4,427,000 after buying an additional 14,992 shares during the period. Finally, Metis Global Partners LLC raised its stake in shares of Alexandria Real Estate Equities by 17.0% in the third quarter. Metis Global Partners LLC now owns 36,878 shares of the real estate investment trust's stock worth $4,379,000 after buying an additional 5,367 shares during the period. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Stock Down 0.3 %

NYSE ARE traded down $0.36 on Monday, reaching $105.22. 1,577,743 shares of the stock traded hands, compared to its average volume of 996,182. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The company has a fifty day moving average price of $117.10 and a 200-day moving average price of $117.84. The company has a market cap of $18.39 billion, a price-to-earnings ratio of 64.38, a PEG ratio of 3.95 and a beta of 1.16. Alexandria Real Estate Equities, Inc. has a 12 month low of $102.24 and a 12 month high of $135.45.

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

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.94%. Alexandria Real Estate Equities's payout ratio is 317.07%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ARE shares. JMP Securities decreased their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday. Bank of America downgraded 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 note on Monday, July 29th. Evercore ISI decreased 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 note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price objective (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Finally, Citigroup cut Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and cut their target price for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $127.30.

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.