Alexandria Real Estate Equities (ARE) Upgraded to Buy at Bank of America

Alexandria Real Estate Equities (NYSE:ARE) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Monday, The Fly reports.

ARE has been the subject of several other reports. Mizuho reiterated a “buy” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Zacks Investment Research cut Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. National Bank Financial cut Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $20.00 to $18.00 in a report on Monday, October 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Alexandria Real Estate Equities in a report on Monday, October 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $113.17.

Alexandria Real Estate Equities (ARE) opened at $128.69 on Monday. Alexandria Real Estate Equities has a 1-year low of $105.74 and a 1-year high of $129.04. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $12,317.93, a price-to-earnings ratio of 21.77, a P/E/G ratio of 3.55 and a beta of 0.84.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.96). Alexandria Real Estate Equities had a net margin of 13.21% and a return on equity of 3.69%. The business had revenue of $285.60 million for the quarter, compared to analysts’ expectations of $286.11 million. During the same quarter in the previous year, the firm earned $1.39 EPS. Alexandria Real Estate Equities’s revenue was up 24.0% compared to the same quarter last year. equities analysts expect that Alexandria Real Estate Equities will post 6.02 earnings per share for the current year.

In related news, EVP Thomas J. Andrews sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $120.58, for a total transaction of $602,900.00. Following the completion of the sale, the executive vice president now directly owns 158,000 shares in the company, valued at approximately $19,051,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joel S. Marcus sold 25,000 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.99, for a total value of $2,974,750.00. Following the sale, the chief executive officer now owns 664,436 shares of the company’s stock, valued at $79,061,239.64. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $6,080,700 over the last quarter. Company insiders own 1.51% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Analysts LLC lifted its stake in shares of Alexandria Real Estate Equities by 0.7% during the 2nd quarter. Capital Analysts LLC now owns 1,018 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 7 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Alexandria Real Estate Equities by 2.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,030 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 21 shares during the last quarter. Perigon Wealth Management LLC increased its position in Alexandria Real Estate Equities by 395.0% during the 1st quarter. Perigon Wealth Management LLC now owns 990 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 790 shares in the last quarter. First Personal Financial Services increased its position in Alexandria Real Estate Equities by 28.6% during the 1st quarter. First Personal Financial Services now owns 1,031 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 229 shares in the last quarter. Finally, Muzinich & Co. Inc. increased its position in Alexandria Real Estate Equities by 30.4% during the 2nd quarter. Muzinich & Co. Inc. now owns 943 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 220 shares in the last quarter.

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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 space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

The Fly

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

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