Alexandria Real Estate Equities (ARE) Stock Rating Reaffirmed by Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report issued on Monday. They presently have a $135.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.37% from the stock’s current price.

Several other research analysts also recently weighed in on ARE. National Bank Financial downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $20.00 to $18.00 in a research report on Monday, October 23rd. Mizuho reissued a “buy” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America lifted their target price on shares of Alexandria Real Estate Equities from $129.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $20.37 target price on shares of Alexandria Real Estate Equities in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $105.67.

Shares of Alexandria Real Estate Equities (NYSE ARE) opened at $118.04 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. Alexandria Real Estate Equities has a fifty-two week low of $106.89 and a fifty-two week high of $134.37. The company has a market cap of $11,950.24, a P/E ratio of 75.19, a P/E/G ratio of 2.67 and a beta of 0.79.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, January 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($1.16). The business had revenue of $298.79 million during the quarter, compared to the consensus estimate of $293.63 million. Alexandria Real Estate Equities had a return on equity of 3.08% and a net margin of 14.77%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 earnings per share. analysts predict that Alexandria Real Estate Equities will post 6.56 earnings per share for the current fiscal year.

In related news, CEO Joel S. Marcus sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $126.91, for a total transaction of $1,649,830.00. Following the transaction, the chief executive officer now directly owns 651,436 shares of the company’s stock, valued at $82,673,742.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter M. Moglia sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $130.00, for a total transaction of $227,500.00. Following the transaction, the insider now directly owns 115,117 shares in the company, valued at $14,965,210. The disclosure for this sale can be found here. Insiders have sold 116,250 shares of company stock worth $14,752,120 over the last ninety days. 1.51% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ARE. BlackRock Inc. lifted its stake in Alexandria Real Estate Equities by 9.3% in the fourth quarter. BlackRock Inc. now owns 10,163,374 shares of the real estate investment trust’s stock valued at $1,327,236,000 after acquiring an additional 867,397 shares during the last quarter. APG Asset Management US Inc. lifted its stake in Alexandria Real Estate Equities by 2.8% in the fourth quarter. APG Asset Management US Inc. now owns 4,439,905 shares of the real estate investment trust’s stock valued at $579,807,000 after acquiring an additional 119,500 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Alexandria Real Estate Equities by 14.5% in the third quarter. Principal Financial Group Inc. now owns 3,475,698 shares of the real estate investment trust’s stock valued at $413,502,000 after acquiring an additional 440,716 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Alexandria Real Estate Equities by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,434,839 shares of the real estate investment trust’s stock valued at $317,965,000 after acquiring an additional 73,307 shares during the last quarter. Finally, PGGM Investments lifted its stake in Alexandria Real Estate Equities by 10.7% in the fourth quarter. PGGM Investments now owns 2,163,000 shares of the real estate investment trust’s stock valued at $282,466,000 after acquiring an additional 209,900 shares during the last quarter. 96.28% of the stock is currently owned by hedge funds and other 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.

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

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