Alexandria Real Estate Equities, Inc. (NYSE:ARE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $124.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s target price points to a potential upside of 11.86% from the company’s previous close.

According to Zacks, “Alexandria Real Estate Equities, Inc., Landlord and Developer of Choice to the Life Science Industry, is a publicly-traded real estate investment trust focused principally on the ownership, operation, management, selective redevelopment, development and acquisition of life science properties. Our properties are designed and improved for lease primarily to institutional, pharmaceutical, biotechnology, medical device, life science product, service, biodefense and translational medicine entities, as well as governmental agencies. “

Separately, Mizuho reaffirmed a “buy” rating on shares of Alexandria Real Estate Equities in a research note on Friday, December 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $117.13.

Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

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Alexandria Real Estate Equities (NYSE:ARE) traded down 1.00% on Wednesday, hitting $109.74. The stock had a trading volume of 321,583 shares. The stock’s market cap is $8.71 billion. Alexandria Real Estate Equities has a 12 month low of $70.69 and a 12 month high of $114.67. The firm’s 50 day moving average price is $110.11 and its 200-day moving average price is $108.09.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.01. The firm had revenue of $230.38 million for the quarter, compared to analyst estimates of $165.66 million. Alexandria Real Estate Equities had a negative net margin of 6.05% and a negative return on equity of 1.37%. Alexandria Real Estate Equities’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. On average, analysts forecast that Alexandria Real Estate Equities will post ($1.34) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, December 28th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is -274.38%.

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In other Alexandria Real Estate Equities news, EVP Daniel J. Ryan sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $102.53, for a total value of $768,975.00. Following the transaction, the executive vice president now directly owns 84,700 shares of the company’s stock, valued at approximately $8,684,291. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joel S. Marcus sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $103.58, for a total transaction of $3,107,400.00. Following the completion of the transaction, the chief executive officer now directly owns 673,124 shares in the company, valued at $69,722,183.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARE. Tower Research Capital LLC TRC raised its position in Alexandria Real Estate Equities by 2.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,030 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 21 shares during the period. Capstone Asset Management Co. raised its position in Alexandria Real Estate Equities by 0.7% in the third quarter. Capstone Asset Management Co. now owns 7,092 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 50 shares during the period. Stifel Financial Corp raised its position in Alexandria Real Estate Equities by 1.2% in the second quarter. Stifel Financial Corp now owns 6,757 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 77 shares during the period. IBM Retirement Fund raised its position in Alexandria Real Estate Equities by 1.2% in the second quarter. IBM Retirement Fund now owns 7,377 shares of the real estate investment trust’s stock worth $764,000 after buying an additional 87 shares during the period. Finally, Commerce Bank raised its position in Alexandria Real Estate Equities by 4.0% in the second quarter. Commerce Bank now owns 2,389 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 91 shares during the period. 98.49% of the stock is currently owned by institutional investors and hedge funds.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing office/laboratory and technology office space for lease to the science and technology industries. It is focused on collaborative science and technology campuses. It develops urban cluster campuses and ecosystems.

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