StockNews.com upgraded shares of Alexandria Real Estate Equities (NYSE:ARE – Get Rating) from a sell rating to a hold rating in a research note published on Tuesday.
Other equities research analysts also recently issued reports about the company. JMP Securities restated a buy rating and set a $180.00 price objective on shares of Alexandria Real Estate Equities in a report on Thursday, October 6th. Evercore ISI lowered their price target on Alexandria Real Estate Equities to $168.00 in a report on Friday, December 2nd. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $220.00 to $200.00 and set an outperform rating for the company in a report on Thursday, November 10th. BTIG Research lowered their price target on Alexandria Real Estate Equities from $233.00 to $186.00 in a report on Wednesday, October 19th. Finally, Robert W. Baird boosted their price target on Alexandria Real Estate Equities from $151.00 to $162.00 in a report on Friday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of Moderate Buy and an average target price of $173.43.
Alexandria Real Estate Equities Price Performance
ARE stock opened at $160.74 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.50. Alexandria Real Estate Equities has a 52-week low of $126.74 and a 52-week high of $206.85. The stock’s 50 day moving average is $150.95 and its two-hundred day moving average is $150.04. The company has a market capitalization of $26.38 billion, a PE ratio of 48.86, a P/E/G ratio of 2.33 and a beta of 0.91.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($1.82). Alexandria Real Estate Equities had a return on equity of 3.03% and a net margin of 21.73%. The business had revenue of $670.28 million for the quarter, compared to analysts’ expectations of $674.21 million. During the same quarter in the prior year, the firm earned $1.97 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts predict that Alexandria Real Estate Equities will post 8.41 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Increases Dividends
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a dividend of $1.21 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $4.84 dividend on an annualized basis and a yield of 3.01%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. Alexandria Real Estate Equities’s payout ratio is currently 147.11%.
Insider Activity at Alexandria Real Estate Equities
In related news, insider Vincent Ciruzzi sold 6,998 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $150.76, for a total transaction of $1,055,018.48. Following the completion of the transaction, the insider now owns 39,806 shares in the company, valued at approximately $6,001,152.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alexandria Real Estate Equities news, insider Vincent Ciruzzi sold 6,998 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $150.76, for a total transaction of $1,055,018.48. Following the completion of the transaction, the insider now owns 39,806 shares in the company, valued at approximately $6,001,152.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dean A. Shigenaga sold 9,000 shares of the business’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $152.51, for a total value of $1,372,590.00. Following the transaction, the chief financial officer now owns 134,832 shares of the company’s stock, valued at approximately $20,563,228.32. The disclosure for this sale can be found here. Insiders sold 34,253 shares of company stock worth $5,179,946 in the last 90 days. 0.96% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. acquired a new position in Alexandria Real Estate Equities during the 2nd quarter worth $25,000. Glassman Wealth Services lifted its holdings in shares of Alexandria Real Estate Equities by 137.2% in the second quarter. Glassman Wealth Services now owns 204 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 118 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in shares of Alexandria Real Estate Equities in the third quarter valued at $36,000. First Horizon Advisors Inc. lifted its holdings in shares of Alexandria Real Estate Equities by 96.9% in the third quarter. First Horizon Advisors Inc. now owns 254 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter valued at $43,000. Institutional investors and hedge funds own 89.81% of the company’s stock.
About Alexandria Real Estate Equities
(Get Rating)
Alexandria Real Estate Equities, Inc is an urban office real estate investment trust. The firm engages in the ownership, operation, development, and redevelopment of life science and technology properties. It also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations.
See Also
Receive News & Ratings for Alexandria Real Estate Equities Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alexandria Real Estate Equities and related companies with MarketBeat.com’s FREE daily email newsletter.