Evercore ISI Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $64.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price trimmed by Evercore ISI from $72.00 to $64.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird lowered their target price on shares of Alexandria Real Estate Equities from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Alexandria Real Estate Equities in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Alexandria Real Estate Equities from $95.00 to $65.00 in a report on Monday, November 3rd. BNP Paribas Exane cut their target price on shares of Alexandria Real Estate Equities from $82.00 to $72.00 and set an “underperform” rating for the company in a research report on Tuesday, October 28th. Finally, Cantor Fitzgerald lowered their price target on Alexandria Real Estate Equities from $79.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.43.

Alexandria Real Estate Equities Price Performance

NYSE:ARE opened at $45.57 on Thursday. Alexandria Real Estate Equities has a 52-week low of $45.47 and a 52-week high of $107.19. The stock has a fifty day moving average of $63.59 and a 200 day moving average of $72.51. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -18.45, a P/E/G ratio of 3.91 and a beta of 1.32.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.09). The business had revenue of $751.94 million during the quarter, compared to analysts’ expectations of $752.90 million. Alexandria Real Estate Equities had a negative net margin of 13.43% and a negative return on equity of 1.89%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.37 EPS. Alexandria Real Estate Equities has set its FY 2025 guidance at 8.980-9.040 EPS. On average, research analysts expect that Alexandria Real Estate Equities will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.88 annualized dividend and a dividend yield of 6.3%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently -213.77%.

Institutional Trading of Alexandria Real Estate Equities

Several institutional investors have recently added to or reduced their stakes in the business. Analyst IMS Investment Management Services Ltd. raised its stake in Alexandria Real Estate Equities by 48.3% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 721,671 shares of the real estate investment trust’s stock worth $52,415,000 after buying an additional 235,093 shares during the period. Bank of Montreal Can increased its holdings in shares of Alexandria Real Estate Equities by 10.7% in the second quarter. Bank of Montreal Can now owns 406,318 shares of the real estate investment trust’s stock worth $29,511,000 after acquiring an additional 39,117 shares in the last quarter. Washburn Capital Management Inc. bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth about $949,000. Penserra Capital Management LLC raised its position in shares of Alexandria Real Estate Equities by 46.3% during the second quarter. Penserra Capital Management LLC now owns 18,927 shares of the real estate investment trust’s stock worth $1,374,000 after purchasing an additional 5,994 shares during the period. Finally, SYM FINANCIAL Corp bought a new position in shares of Alexandria Real Estate Equities during the 2nd quarter valued at about $359,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.