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FM Investors Pty Ltd increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 5.4% during the first quarter, according to a recent SEC filing. The firm now owns 73,357 shares of the real estate investment trust's stock, valued at $6.79 million after purchasing an additional 3,771 shares. Other institutional investors and hedge funds have also made significant changes to their positions in Alexandria Real Estate Equities during the fourth quarter.
Norges Bank acquired a new stake worth $1.61 billion, while JPMorgan Chase & Co. increased its position by 213% to 8.27 million shares valued at $806.3 million. Geode Capital Management LLC grew its stake by 2.4% to 4.14 million shares worth $402.5 million, and Northern Trust Corp lifted its holdings by 68% to 2.57 million shares valued at $250.3 million.
Alexandria Real Estate Equities' stock opened at $76.96 on Friday, with a current ratio of 0.22, quick ratio of 0.22, and debt-to-equity ratio of 0.60. The company's 50-day moving average price is $72.30, and its 200-day moving average price is $86.39.
The real estate investment trust reported earnings per share of $2.30 for the quarter, beating analysts' estimates by $0.02. Alexandria Real Estate Equities had a net margin of 4.62% and a return on equity of 0.64%. The company's quarterly revenue was down 1.4% compared to the same period last year.
Analysts have issued mixed ratings for Alexandria Real Estate Equities, with JMP Securities maintaining a "market outperform" rating and Jefferies Financial Group decreasing its price target from $100 to $82. Wall Street Zen raised its rating from "sell" to "hold," while Evercore ISI decreased its price target from $103 to $91.
Alexandria Real Estate Equities has a consensus rating of "hold" among analysts, with an average price target of $99.54. The company's dividend payout ratio is 694.74%, and it will pay a quarterly dividend of $1.32 per share on July 15th to shareholders recorded on June 30th.
The company's market capitalization is $13.31 billion, with a P/E ratio of 101.26 and a beta of 1.25.
