Biltmore Wealth Management LLC Has $459,000 Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Biltmore Wealth Management LLC cut its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,828 shares of the real estate investment trust’s stock after selling 184 shares during the period. Alexandria Real Estate Equities comprises approximately 0.3% of Biltmore Wealth Management LLC’s holdings, making the stock its 25th largest holding. Biltmore Wealth Management LLC’s holdings in Alexandria Real Estate Equities were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alexandria Real Estate Equities by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,193,034 shares of the real estate investment trust’s stock worth $3,276,320,000 after buying an additional 823,287 shares in the last quarter. BlackRock Inc. grew its position in Alexandria Real Estate Equities by 3.1% during the 2nd quarter. BlackRock Inc. now owns 12,544,938 shares of the real estate investment trust’s stock worth $2,035,415,000 after acquiring an additional 378,570 shares during the last quarter. State Street Corp grew its position in Alexandria Real Estate Equities by 7.0% during the 1st quarter. State Street Corp now owns 6,531,130 shares of the real estate investment trust’s stock worth $901,610,000 after acquiring an additional 425,919 shares during the last quarter. APG Asset Management US Inc. grew its position in Alexandria Real Estate Equities by 11.0% during the 2nd quarter. APG Asset Management US Inc. now owns 5,673,500 shares of the real estate investment trust’s stock worth $920,525,000 after acquiring an additional 562,500 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Alexandria Real Estate Equities by 25.1% during the 1st quarter. Capital Research Global Investors now owns 2,499,630 shares of the real estate investment trust’s stock worth $342,599,000 after acquiring an additional 501,073 shares during the last quarter. 92.83% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. Berenberg Bank assumed coverage on Alexandria Real Estate Equities in a research report on Friday, October 2nd. They set a “buy” rating and a $190.00 price target on the stock. Royal Bank of Canada increased their price target on Alexandria Real Estate Equities from $175.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Mizuho decreased their price target on Alexandria Real Estate Equities from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, UBS Group started coverage on Alexandria Real Estate Equities in a research report on Friday. They issued a “neutral” rating and a $166.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $150.31.

In related news, CEO Peter M. Moglia sold 6,119 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $163.16, for a total transaction of $998,376.04. Following the sale, the chief executive officer now owns 170,014 shares of the company’s stock, valued at approximately $27,739,484.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CIO Daniel J. Ryan sold 10,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $174.34, for a total value of $1,743,400.00. Following the sale, the executive now directly owns 126,698 shares in the company, valued at approximately $22,088,529.32. The disclosure for this sale can be found here. Insiders sold a total of 100,250 shares of company stock worth $17,471,906 over the last 90 days. 1.12% of the stock is owned by corporate insiders.

NYSE:ARE opened at $162.06 on Friday. Alexandria Real Estate Equities, Inc. has a 12-month low of $109.22 and a 12-month high of $177.70. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $20.44 billion, a P/E ratio of 49.71, a P/E/G ratio of 4.43 and a beta of 0.77. The stock’s fifty day simple moving average is $163.37 and its 200-day simple moving average is $160.05.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 27th. The real estate investment trust reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.01. Alexandria Real Estate Equities had a return on equity of 3.94% and a net margin of 24.09%. The business had revenue of $436.96 million for the quarter, compared to analyst estimates of $448.92 million. During the same period last year, the company earned $0.68 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, equities research analysts expect that Alexandria Real Estate Equities, Inc. will post 7.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $4.24 annualized dividend and a dividend yield of 2.62%. Alexandria Real Estate Equities’s dividend payout ratio is currently 60.92%.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $27.7 billion as of June 30, 2020, and an asset base in North America of 43.0 million square feet ("SF").

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Institutional Ownership by Quarter for Alexandria Real Estate Equities (NYSE:ARE)

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