Public Sector Pension Investment Board Purchases 5,327 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Public Sector Pension Investment Board grew its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 24.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,183 shares of the real estate investment trust’s stock after buying an additional 5,327 shares during the quarter. Public Sector Pension Investment Board’s holdings in Alexandria Real Estate Equities were worth $3,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Castle Hook Partners LP purchased a new stake in Alexandria Real Estate Equities during the 3rd quarter valued at $14,319,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Alexandria Real Estate Equities by 81.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,000 shares of the real estate investment trust’s stock valued at $14,250,000 after buying an additional 53,700 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Alexandria Real Estate Equities by 24.2% during the third quarter. Townsquare Capital LLC now owns 2,801 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 545 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Alexandria Real Estate Equities by 114.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock worth $51,706,000 after buying an additional 232,817 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Alexandria Real Estate Equities in the 3rd quarter worth about $75,000. Institutional investors own 96.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed 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 report on Thursday, October 24th. Evercore ISI lowered their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Wedbush cut their price objective on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price objective for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $126.73.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $108.01 on Wednesday. The business has a 50-day simple moving average of $113.77 and a two-hundred day simple moving average of $116.75. 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, Inc. has a 52 week low of $102.89 and a 52 week high of $135.45. The stock has a market cap of $18.88 billion, a price-to-earnings ratio of 65.86, a PEG ratio of 4.11 and a beta of 1.14.

Alexandria Real Estate Equities (NYSE:ARE) last released 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). 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 during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the company posted $2.26 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that Alexandria Real Estate Equities, Inc. will post 9.47 EPS for the current year.

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.