Alexandria Real Estate Equities (ARE) Stock Rating Upgraded by Zacks Investment Research

Alexandria Real Estate Equities (NYSE:ARE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $143.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.01% from the stock’s current price.

According to Zacks, “Shares of Alexandria have outperformed the industry in the past six months. Further, the stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share being revised upward in a month’s time. The fundamentals of the life science industry remain strong and the company’s solid portfolio, consisting of Class A properties in upscale locations, enjoys strong demand. This enables the company to enjoy high occupancy and generate steady rental revenues from its properties. Moreover, on Jan 8, Alexandria closed the public offering of 6.9 million shares. This adds to its existing capital buffer which will likely cushion its position during any adverse situation. However, sale of non-core assets is anticipated to have a dilutive impact on earnings and rate hike add to its woes.”

A number of other equities analysts have also commented on the company. Bank of America raised Alexandria Real Estate Equities from a “neutral” rating to a “buy” rating and set a $133.00 price target for the company in a report on Monday, December 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $20.37 price target on shares of Alexandria Real Estate Equities in a report on Monday, December 11th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Alexandria Real Estate Equities in a report on Monday, October 23rd. National Bank Financial lowered Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Monday, October 23rd. Finally, Mizuho reaffirmed a “buy” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $101.05.

Alexandria Real Estate Equities (ARE) traded up $0.35 during trading on Tuesday, hitting $127.67. The stock had a trading volume of 524,049 shares, compared to its average volume of 963,733. Alexandria Real Estate Equities has a 52-week low of $106.89 and a 52-week high of $134.37. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $13,612.46, a price-to-earnings ratio of 145.08, a P/E/G ratio of 2.83 and a beta of 0.84.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.96). Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The company had revenue of $285.60 million during the quarter, compared to the consensus estimate of $286.11 million. During the same period in the previous year, the business earned $1.39 earnings per share. Alexandria Real Estate Equities’s revenue was up 24.0% on a year-over-year basis. research analysts forecast 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 Alexandria Real Estate Equities stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $125.26, for a total transaction of $626,300.00. Following the completion of the sale, the executive vice president now owns 146,916 shares of the company’s stock, valued at $18,402,698.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joel S. Marcus sold 27,500 shares of Alexandria Real Estate Equities stock in a transaction on Monday, December 4th. The shares were sold at an average price of $129.60, for a total value of $3,564,000.00. Following the sale, the chief executive officer now directly owns 623,936 shares of the company’s stock, valued at approximately $80,862,105.60. The disclosure for this sale can be found here. Insiders have sold 62,250 shares of company stock valued at $7,986,230 in the last three months. 1.51% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC boosted its stake in Alexandria Real Estate Equities by 0.3% during the second quarter. Piedmont Investment Advisors LLC now owns 2,843 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 8 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Alexandria Real Estate Equities by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 2,069 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 25 shares during the period. D.A. Davidson & CO. boosted its stake in Alexandria Real Estate Equities by 4.6% during the second quarter. D.A. Davidson & CO. now owns 3,861 shares of the real estate investment trust’s stock valued at $465,000 after buying an additional 169 shares during the period. Millie Capital Management LLC boosted its stake in Alexandria Real Estate Equities by 0.8% during the second quarter. Millie Capital Management LLC now owns 23,973 shares of the real estate investment trust’s stock valued at $2,888,000 after buying an additional 186 shares during the period. Finally, Muzinich & Co. Inc. raised its position in Alexandria Real Estate Equities by 30.4% during the second quarter. Muzinich & Co. Inc. now owns 943 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 220 shares in the last quarter. 95.99% of the stock is owned by institutional investors.

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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.

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