Alexandria Real Estate Equities Price Target Increased to $77.00 by Analysts at RBC Capital (ARE)
RBC Capital increased their price target on shares of Alexandria Real Estate Equities (NYSE:ARE) from $73.00 to $77.00 in a research note issued on Tuesday, Analyst Ratings News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 2.27% from the company’s current price.
Alexandria Real Estate Equities (NYSE:ARE) opened at 75.29 on Tuesday. 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 $73.21 and a 200-day moving average of $68.81. The company has a market cap of $5.364 billion and a P/E ratio of 44.10.
Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, May 5th. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.15 by $0.02. The company had revenue of $176.20 million for the quarter, compared to the consensus estimate of $172.51 million. During the same quarter last year, the company posted $1.11 earnings per share. Alexandria Real Estate Equities’s revenue was up 17.4% compared to the same quarter last year. Analysts expect that Alexandria Real Estate Equities will post $4.74 EPS for the current fiscal year.
A number of other firms have also recently commented on ARE. Analysts at JMP Securities reiterated a “market outperform” rating on shares of Alexandria Real Estate Equities in a research note on Wednesday, May 7th. They now have a $78.00 price target on the stock, up previously from $77.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Alexandria Real Estate Equities in a research note on Tuesday, April 22nd. They now have a $79.00 price target on the stock, up previously from $75.00. Finally, analysts at Citigroup Inc. downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $73.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $75.29.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.