Alexandria Real Estate Equities Price Target Cut to $72.00 by Analysts at Cowen and Company (ARE)
Equities researchers at Cowen and Company decreased their target price on shares of Alexandria Real Estate Equities (NYSE:ARE) from $85.00 to $72.00 in a research report issued on Thursday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective would suggest a potential upside of 14.30% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) to a “buy” rating in a research note to investors on Thursday, August 1st. Separately, analysts at Barclays Capital cut their price target on shares of Alexandria Real Estate Equities (NYSE:ARE) from $85.00 to $79.00 in a research note to investors on Monday, July 29th. Finally, analysts at Barclays Capital raised their price target on shares of Alexandria Real Estate Equities (NYSE:ARE) from $103.00 to $112.00 in a research note to investors on Wednesday, July 24th. They now have an “overweight” rating on the stock.
Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.60.
Shares of Alexandria Real Estate Equities (NYSE:ARE) traded down 0.63% during mid-day trading on Thursday, hitting $62.99. 462,121 shares of the company’s stock traded hands. Alexandria Real Estate Equities has a 52-week low of $60.86 and a 52-week high of $78.43. The stock has a 50-day moving average of $65.00 and a 200-day moving average of $69.16. The company has a market cap of $4.500 billion and a price-to-earnings ratio of 50.92.
Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, July 29th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $154.20 million for the quarter, compared to the consensus estimate of $152.60 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Alexandria Real Estate Equities will post $4.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, September 26th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $0.65.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
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