Insider Selling: James H. Richardson Sells 3,250 Shares of Alexandria Real Estate Equities Stock (ARE)
Alexandria Real Estate Equities (NYSE:ARE) Director James H. Richardson unloaded 3,250 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $80.06, for a total value of $260,195.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $8,006,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Alexandria Real Estate Equities (NYSE:ARE) traded down 1.11% during mid-day trading on Friday, hitting $79.31. 223,651 shares of the company’s stock traded hands. Alexandria Real Estate Equities has a 1-year low of $60.86 and a 1-year high of $80.65. The stock has a 50-day moving average of $78.42 and a 200-day moving average of $75.1. The company has a market cap of $5.690 billion and a price-to-earnings ratio of 46.96.
Alexandria Real Estate Equities (NYSE:ARE) last released its earnings data 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. Analysts expect that Alexandria Real Estate Equities will post $4.78 EPS for the current fiscal year.
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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $77.75.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
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