Alexandria Real Estate Equities (NYSE:ARE) PT Lowered to $120.00

Alexandria Real Estate Equities (NYSE:ARE) had its price objective reduced by equities researchers at Wedbush from $130.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential upside of 0.80% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Evercore ISI cut their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research note on Wednesday. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the stock from $136.00 to $127.00 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $131.78.

Alexandria Real Estate Equities Stock Performance

NYSE ARE traded up $1.08 on Wednesday, reaching $119.05. 338,033 shares of the company’s stock traded hands, compared to its average volume of 969,512. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a 50 day moving average price of $119.05 and a 200-day moving average price of $118.78. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 111.26, a P/E/G ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the previous year, the firm posted $2.26 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Institutional Trading of Alexandria Real Estate Equities

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Alexandria Real Estate Equities by 14.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,833 shares of the real estate investment trust’s stock valued at $36,331,000 after purchasing an additional 34,854 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Alexandria Real Estate Equities by 2.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock worth $41,482,000 after purchasing an additional 9,187 shares during the period. Norden Group LLC acquired a new stake in Alexandria Real Estate Equities during the 1st quarter worth $963,000. Vanguard Group Inc. lifted its stake in shares of Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after acquiring an additional 156,643 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Alexandria Real Estate Equities by 301.6% in the 1st quarter. SG Americas Securities LLC now owns 71,743 shares of the real estate investment trust’s stock worth $9,248,000 after acquiring an additional 53,877 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Company Profile

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.