Alexandria Real Estate Equities (NYSE:ARE) Price Target Cut to $124.00 by Analysts at Evercore ISI

Alexandria Real Estate Equities (NYSE:ARE) had its price objective decreased by Evercore ISI from $129.00 to $124.00 in a research note published on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their target price on 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. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Wedbush lowered Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $131.78.

Alexandria Real Estate Equities Trading Up 1.6 %

Shares of NYSE ARE opened at $119.90 on Wednesday. The business’s 50 day moving average price is $119.18 and its 200-day moving average price is $118.79. 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 company has a market cap of $20.97 billion, a price-to-earnings ratio of 112.06, a PEG 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 (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). The company had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. On average, sell-side analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.34%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 485.98%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in Alexandria Real Estate Equities during the 1st quarter worth approximately $30,000. Park Avenue Securities LLC boosted its stake in shares of Alexandria Real Estate Equities by 22.1% in the first quarter. Park Avenue Securities LLC now owns 3,550 shares of the real estate investment trust’s stock worth $458,000 after acquiring an additional 642 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Alexandria Real Estate Equities during the first quarter worth approximately $37,000. Pasadena Private Wealth LLC raised its stake in Alexandria Real Estate Equities by 4.4% in the 1st quarter. Pasadena Private Wealth LLC now owns 9,338 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 393 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in Alexandria Real Estate Equities by 17.6% in the 1st quarter. Harbour Capital Advisors LLC now owns 4,179 shares of the real estate investment trust’s stock valued at $518,000 after purchasing an additional 625 shares in the last quarter. Institutional investors and hedge funds 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.