Alexandria Real Estate Equities COO Sells $135,120 in Stock (ARE)
Alexandria Real Estate Equities (NYSE:ARE) COO Stephen Richardson sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $67.56, for a total value of $135,120.00. Following the transaction, the chief operating officer now directly owns 54,507 shares in the company, valued at approximately $3,682,493. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ARE has been the subject of a number of recent research reports. Analysts at Cowen and Company cut their price target on shares of Alexandria Real Estate Equities (NYSE:ARE) from $85.00 to $72.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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.
Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $73.60.
Shares of Alexandria Real Estate Equities (NYSE:ARE) traded down 1.22% during mid-day trading on Tuesday, hitting $65.44. The stock had a trading volume of 293,835 shares. Alexandria Real Estate Equities has a one year low of $60.86 and a one year high of $78.43. The stock has a 50-day moving average of $64.1 and a 200-day moving average of $68.74. The company has a market cap of $4.675 billion and a price-to-earnings ratio of 53.21.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.00 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.07 earnings per share. Alexandria Real Estate Equities’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Alexandria Real Estate Equities will post $4.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change 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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