Alexandria Real Estate Equities Receives Consensus Recommendation of “Buy” from Analysts (NYSE:ARE)
Alexandria Real Estate Equities (NYSE:ARE) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, AnalystRatingsNetwork reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $77.75.
A number of research firms have recently commented on ARE. Analysts at RBC Capital upgraded shares of Alexandria Real Estate Equities from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 31st. They now have a $86.00 price target on the stock, up previously from $77.00. Separately, analysts at Jefferies Group reiterated a “market outperform” rating on shares of Alexandria Real Estate Equities in a research note on Wednesday, July 30th. They now have a $82.00 price target on the stock, up previously from $78.00. Finally, analysts at Barclays raised their price target on shares of Alexandria Real Estate Equities from $79.00 to $83.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock.
In other Alexandria Real Estate Equities news, Director James H. Richardson sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.54, for a total value of $157,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Alexandria Real Estate Equities (NYSE:ARE) opened at 79.75 on Wednesday. Alexandria Real Estate Equities has a 52-week low of $60.86 and a 52-week high of $79.87. The stock’s 50-day moving average is $78.21 and its 200-day moving average is $74.99. The company has a market cap of $5.722 billion and a P/E ratio of 46.57.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.01. The company had revenue of $176.40 million for the quarter, compared to the consensus estimate of $176.90 million. During the same quarter last year, the company posted $1.00 earnings per share. Alexandria Real Estate Equities’s revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that Alexandria Real Estate Equities will post $4.78 earnings per share for the current fiscal year.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
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