Phocas Financial Corp., one of the most prominent institutional investors in the United States, has reduced its stake in Alexandria Real Estate Equities, Inc. (NYSE: ARE) by 8.1% in the first quarter of this year. According to a 13F filing with the Securities & Exchange Commission, Phocas Financial Corp. now owns 13,330 shares in Alexandria Real Estate Equities after selling 1,178 shares during the period. Based on its most recent filing with SEC, Phocas Financial Corp.’s holdings in the real estate investment trust amounted to $1,674,000.
In closely related news that is likely to have created widespread market buzz and speculation among wary investors and active stock traders alike, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities’ stock last May at an average price of $122.20 per unit for a total payout amounting to $916,500.00. Following the transaction, Chairman Joel S. Marcus now directly holds 351,354 shares in Alexandria Real Estate Equities having a value of $42,935,458.80.
Despite this development indicative of administrative changes throughout the company itself as well as among its institutional investors and key insiders — traders should note that nearly 1.60% of ARE’s stocks are presently owned by insiders marking investor sentiment indecision as far as flocking towards or moving away from it is concerned.
Shares of Alexandria Real Estate Equity opened trading last Friday at a price point of $109.08 and were being traded below their recent peak highs due to current economic concerns related to cash flows amidst highly dynamic changes plaguing equity markets due to both external factors such as pandemics and international policy decisions along with internal factors such as debt-to-equity ratio capping future leverage potential leading to questions regarding liquidity management even though ARE maintains a healthy current ratio and quick ratio coming in at 0.53 respectively.
Despite the prevailing uncertainty, Alexandria Real Estate Equities continues to be one of the most widely held investment trust stocks on the New York Stock Exchange with a market capitalization of $18.87 billion and an enviable P/E ratio of 24.08 contributing to investors both retail and institutional keeping a close eye on ARE’s every move.
[bs_slider_forecast ticker=”ARE”]
Alexandria Real Estate Equities Sees Holdings Changes as Institutional Investors and Hedge Funds Increase Stake
Alexandria Real Estate Equities has recently seen changes in their holdings from institutional investors and hedge funds, with several companies increasing their stake in the real estate investment trust. Mercer Global Advisors, Great Valley Advisor Group, Northwestern Mutual Wealth Management Co., Arkadios Wealth Advisors, and Seaport Global Advisors LLC have all increased their holdings by purchasing additional shares. Hedge funds and other institutional investors own 85.60% of the company’s stock.
Despite these changes in holdings, Alexandria Real Estate Equities has received mixed reviews from equities research analysts, with one analyst rating the stock as a sell and six giving it a buy rating. The consensus target price for the company is $167.43.
In related news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock on May 8th at an average price of $122.20 per share for a total value of $916,500.00. Following the sale, Marcus owns 351,354 shares valued at $42,935,458.80.
Alexandria Real Estate Equities reported earnings per share of $0.44 for Q1 on April 25th, falling short of the consensus estimate of $2.15 by ($1.71). The company had revenue of $700.80 million for the quarter compared to analyst estimates of $686.70 million.
The company also recently announced a quarterly dividend increase from its previous amount to be paid to investors who are recorded on June 30th.
Currently sitting at a yield of 4.55%, this increase represents a boost from its previous quarterly dividend payout ratio which is currently 109.49%. Together with these recently observed changes in stock ownership from institutional investors and hedge funds along with updates from its CEO about how resilient real estate investments occupy an important space in a diversified portfolio particularly as such assets often operate under staggered leases which ensures steady cash flows, the company appears to offer a range of viewpoints on both its perceived operations and its fiscal trajectory.