Alexandria Real Estate Equities, Inc. (NYSE:ARE) Receives $51.08 Consensus Target Price from Brokerages

Alexandria Real Estate Equities, Inc. (NYSE:ARE) has been given a consensus recommendation of “Reduce” by the sixteen ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $51.0769.

Several research analysts have issued reports on the company. Wall Street Zen upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. BNP Paribas Exane boosted their price objective on Alexandria Real Estate Equities from $44.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research report on Friday, July 17th. Citigroup reaffirmed a “market perform” rating on shares of Alexandria Real Estate Equities in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of Alexandria Real Estate Equities from $52.00 to $54.00 and gave the company a “market perform” rating in a research report on Friday, June 12th.

Insider Buying and Selling at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus acquired 7,500 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average cost of $42.72 per share, for a total transaction of $320,400.00. Following the completion of the acquisition, the chairman directly owned 587,724 shares of the company’s stock, valued at $25,107,569.28. This represents a 1.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marc E. Binda sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $54.00, for a total value of $108,000.00. Following the sale, the chief financial officer owned 188,264 shares of the company’s stock, valued at $10,166,256. This trade represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.35% of the company’s stock.

Institutional Trading of Alexandria Real Estate Equities

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at about $805,429,000. State Street Corp increased its holdings in shares of Alexandria Real Estate Equities by 0.7% in the fourth quarter. State Street Corp now owns 11,348,192 shares of the real estate investment trust’s stock worth $563,418,000 after buying an additional 75,161 shares during the period. Invesco Ltd. boosted its holdings in Alexandria Real Estate Equities by 57.9% during the 4th quarter. Invesco Ltd. now owns 6,033,304 shares of the real estate investment trust’s stock valued at $295,270,000 after acquiring an additional 2,211,424 shares during the period. Geode Capital Management LLC boosted its holdings in Alexandria Real Estate Equities by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,459,453 shares of the real estate investment trust’s stock valued at $217,466,000 after acquiring an additional 48,490 shares during the period. Finally, Capital World Investors grew its position in Alexandria Real Estate Equities by 0.8% during the 4th quarter. Capital World Investors now owns 3,720,956 shares of the real estate investment trust’s stock worth $182,104,000 after acquiring an additional 29,575 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $51.49 on Thursday. The firm’s 50-day moving average price is $50.61 and its 200-day moving average price is $50.38. Alexandria Real Estate Equities has a 1-year low of $39.41 and a 1-year high of $88.24. The firm has a market capitalization of $8.97 billion, a P/E ratio of -8.21, a P/E/G ratio of 6.21 and a beta of 1.17. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.65.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.73. Alexandria Real Estate Equities had a negative net margin of 36.03% and a negative return on equity of 5.21%. The company had revenue of $671.02 million for the quarter, compared to analysts’ expectations of $684.78 million. During the same quarter in the prior year, the firm earned $2.30 EPS. The business’s revenue was down 11.5% on a year-over-year basis. Equities research analysts anticipate that Alexandria Real Estate Equities will post 6.36 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is -45.93%.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses. The company’s properties are designed to support research and innovation by providing specialized laboratory, office and manufacturing space tailored to biotechnology, pharmaceutical, academic and related industries.

Since its founding in 1994, Alexandria has cultivated a diversified portfolio of campuses across leading innovation clusters in North America and Europe.