Alexandria Real Estate Equities, Inc. (NYSE:ARE) Receives $121.90 Average Target Price from Analysts

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $121.90.

Several analysts recently weighed in on ARE shares. Royal Bank of Canada cut their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the company from $135.00 to $112.00 in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Evercore ISI cut their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Finally, JMP Securities reduced their price target on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th.

Alexandria Real Estate Equities Stock Performance

ARE stock opened at $101.56 on Friday. Alexandria Real Estate Equities has a 1 year low of $94.35 and a 1 year high of $130.14. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 61.92, a PEG ratio of 3.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The stock’s fifty day moving average is $102.13 and its two-hundred day moving average is $112.29.

Alexandria Real Estate Equities announced that its board has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.32 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.20%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 321.95%.

Institutional Trading of Alexandria Real Estate Equities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new position in shares of Alexandria Real Estate Equities in the third quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Alexandria Real Estate Equities during the third quarter worth $30,000. Venturi Wealth Management LLC lifted its holdings in shares of Alexandria Real Estate Equities by 144.0% during the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Alexandria Real Estate Equities in the 3rd quarter valued at $43,000. Finally, M&R Capital Management Inc. purchased a new position in Alexandria Real Estate Equities in the 3rd quarter worth about $50,000. 96.54% of the stock is owned by institutional investors and hedge funds.

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.