Short Interest in Alexandria Real Estate Equities Inc (ARE) Grows  By 262.8%

Short Interest in Alexandria Real Estate Equities Inc (ARE) Grows  By 262.8%

Alexandria Real Estate Equities Inc (NYSE:ARE) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 6,741,724 shares, an increase of 262.8% from the February 28th total of 1,858,408 shares. Based on an average daily trading volume, of 1,265,158 shares, the days-to-cover ratio is currently 5.3 days. Approximately 7.7% of the shares of the stock are short sold.

Several analysts have recently weighed in on the company. Zacks Investment Research lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Tuesday, March 14th. Mizuho restated a “buy” rating and issued a $125.00 price objective on shares of Alexandria Real Estate Equities in a report on Monday, March 20th. Evercore ISI upgraded Alexandria Real Estate Equities from an “in-line” rating to an “outperform” rating and set a $123.00 price objective for the company in a report on Tuesday, March 21st. Finally, Barclays PLC cut their price objective on Alexandria Real Estate Equities from $121.00 to $116.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $117.25.

In other news, CEO Joel S. Marcus sold 6,500 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $112.60, for a total value of $731,900.00. Following the completion of the sale, the chief executive officer now owns 718,619 shares in the company, valued at $80,916,499.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel J. Ryan sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $113.34, for a total value of $566,700.00. Following the completion of the sale, the executive vice president now owns 79,700 shares of the company’s stock, valued at approximately $9,033,198. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,000 shares of company stock valued at $9,389,825. Insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Standard Life Investments LTD boosted its stake in Alexandria Real Estate Equities by 1,021.2% in the third quarter. Standard Life Investments LTD now owns 1,080,739 shares of the real estate investment trust’s stock worth $117,579,000 after buying an additional 984,349 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Alexandria Real Estate Equities by 6.1% in the third quarter. State Treasurer State of Michigan now owns 31,400 shares of the real estate investment trust’s stock worth $3,415,000 after buying an additional 1,800 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Alexandria Real Estate Equities by 2.9% in the third quarter. BlackRock Advisors LLC now owns 98,441 shares of the real estate investment trust’s stock worth $10,707,000 after buying an additional 2,735 shares in the last quarter. Emerald Acquisition Ltd. boosted its stake in Alexandria Real Estate Equities by 55.9% in the third quarter. Emerald Acquisition Ltd. now owns 290,943 shares of the real estate investment trust’s stock worth $31,650,000 after buying an additional 104,280 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Alexandria Real Estate Equities during the third quarter worth $30,934,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Alexandria Real Estate Equities (NYSE:ARE) opened at 110.67 on Wednesday. The stock’s 50 day moving average price is $114.28 and its 200 day moving average price is $110.04. The stock’s market capitalization is $9.84 billion. Alexandria Real Estate Equities has a one year low of $89.43 and a one year high of $120.96.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $1.15. Alexandria Real Estate Equities had a negative return on equity of 0.78% and a negative net margin of 8.78%. The firm earned $249.20 million during the quarter, compared to analysts’ expectations of $181.32 million. During the same period last year, the firm posted $1.33 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, analysts forecast that Alexandria Real Estate Equities will post $1.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, March 29th. This represents a $3.32 dividend on an annualized basis and a yield of 3.00%. Alexandria Real Estate Equities’s dividend payout ratio is -165.17%.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

Related posts

Leave a Comment