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Is Alexandria Real Estate Equities (ARE) Stock Attractively Valued?

Soumya Eswaran
·2 分鐘文章

Baron Funds, an investment management company, released its “Baron Real Estate Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 4.86% (Institutional Shares) compared to a 4.99% decline for its primary benchmark, the MSCI USA IMI Extended Real Estate Index. At the same time, the fund outperformed the MSCI US REIT Index, which fell 10.28% in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Alexandria Real Estate Equities, Inc. (NYSE:ARE) in the Q3 2022 investor letter. Alexandria Real Estate Equities, Inc. (NYSE:ARE) is an urban office real estate investment trust. On November 18, 2022, Alexandria Real Estate Equities, Inc. (NYSE:ARE) stock closed at $150.17 per share. One-month return of Alexandria Real Estate Equities, Inc. (NYSE:ARE) was 7.08% and its shares lost 26.29% of their value over the last 52 weeks. Alexandria Real Estate Equities, Inc. (NYSE:ARE) has a market capitalization of $24.641 billion.

Baron Funds made the following comment about Alexandria Real Estate Equities, Inc. (NYSE:ARE) in its Q3 2022 investor letter:

“Alexandria Real Estate Equities, Inc. (NYSE:ARE) is the leading landlord and developer for the life science industry. A best-in-class company with several competitive advantages including an irreplaceable life science office portfolio concentrated in the premier life science markets in the U.S. and deep customer relationships.

Alexandria is valued at a 5.8% implied capitalization rate versus recent life science real estate transactions that have been valued in the 4% to 5% capitalization range. Alexandria’s real estate is attractively valued at approximately $600 per square foot versus private market transactions for life science real estate in the $1,000 to $1,500 per square foot range.”

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Alexandria Real Estate Equities, Inc. (NYSE:ARE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Alexandria Real Estate Equities, Inc. (NYSE:ARE) at the end of the third quarter which was 32 in the previous quarter.

We discussed Alexandria Real Estate Equities, Inc. (NYSE:ARE) in another article and shared the best dividend stocks with over 10 years of dividend increases. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.