Alexandria Real Estate Equities (NYSE:ARE – Free Report) had its price target reduced by Cantor Fitzgerald from $52.00 to $42.00 in a research note released on Wednesday, MarketBeat Ratings reports. They currently have a neutral rating on the real estate investment trust’s stock.
A number of other equities research analysts have also weighed in on the company. Wall Street Zen lowered Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research report on Thursday, October 15th. Zacks Research upgraded Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Mizuho cut their price target on Alexandria Real Estate Equities from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. cut Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 price target on the stock. in a report on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $49.36.
Get Our Latest Stock Analysis on ARE
Alexandria Real Estate Equities Price Performance
Shares of NYSE:ARE opened at $40.12 on Wednesday. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 5.67 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.14 and a quick ratio of 0.19. The firm has a 50 day simple moving average of $48.10 and a 200 day simple moving average of $49.70. Alexandria Real Estate Equities has a one year low of $38.34 and a one year high of $59.76.
Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) last posted its earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71). The company had revenue of $671.18 million for the quarter, compared to the consensus estimate of $646.26 million. Alexandria Real Estate Equities had a negative return on equity of 7.52% and a negative net margin of 51.81%. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.22 EPS. Research analysts predict that Alexandria Real Estate Equities will post 6.39 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Alexandria Real Estate Equities’s payout ratio is currently -34.20%.
Insider Activity at Alexandria Real Estate Equities
In other Alexandria Real Estate Equities news, Chairman Joel Marcus purchased 5,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were purchased at an average cost of $49.68 per share, with a total value of $248,400.00. Following the completion of the purchase, the chairman owned 597,724 shares in the company, valued at $29,694,928.32. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $50.51, for a total value of $849,073.10. Following the transaction, the executive vice president owned 39,152 shares in the company, valued at $1,977,567.52. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.35% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Alexandria Real Estate Equities in the second quarter worth approximately $1,146,423,000. Bank of New York Mellon Corp acquired a new stake in Alexandria Real Estate Equities in the second quarter valued at approximately $79,253,000. Legal & General Group Plc acquired a new stake in Alexandria Real Estate Equities in the second quarter valued at approximately $76,647,000. Hsbc Holdings PLC bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at approximately $64,485,000. Finally, Bank of America Corp DE bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at approximately $61,516,000. Institutional investors and hedge funds own 96.54% of the company’s stock.
Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.
The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.
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