Alexandria Real Estate Equities Receives Consensus Rating of “Hold” from Brokerages (NYSE:ARE)
Alexandria Real Estate Equities (NYSE:ARE) has received a consensus rating of “Hold” from the eight analysts that are currently covering the stock, American Banking News reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.29.
ARE has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Alexandria Real Estate Equities from $73.00 to $77.00 in a research note on Tuesday, May 13th. They now have a “sector perform” rating on the stock. Separately, 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. Finally, 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.
Alexandria Real Estate Equities (NYSE:ARE) opened at 77.98 on Thursday. Alexandria Real Estate Equities has a 1-year low of $60.86 and a 1-year high of $78.69. The stock’s 50-day moving average is $76.93 and its 200-day moving average is $72.63. The company has a market cap of $5.587 billion and a P/E ratio of 45.81.
Alexandria Real Estate Equities (NYSE:ARE) last released its earnings data on Monday, May 5th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts predict that Alexandria Real Estate Equities will post $4.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, June 26th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.70.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
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