Zacks Investment Research upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $140.00 target price on the real estate investment trust’s stock.
According to Zacks, “Shares of Alexandria have outperformed the industry in the past six months. Further, the stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share being revised upward in a month’s time. The fundamentals of the life science industry remain strong and the company’s solid portfolio, consisting of Class A properties in upscale locations, enjoys high demand. This enables the company to enjoy high occupancy and generate steady rental revenues from its properties. Moreover, ushering in good news for shareholders, on Dec 4, 2017, the company announced a 5% sequential hike in quarterly cash dividend, reflecting robust cash flow and solid balance sheet. However, hike in interest rates remains a concern.”
A number of other equities analysts have also recently issued reports on ARE. Mizuho reiterated a buy rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Bank of America upped their price objective on Alexandria Real Estate Equities from $129.00 to $133.00 and gave the stock a neutral rating in a report on Monday, November 6th. National Bank Financial cut Alexandria Real Estate Equities from an outperform rating to a sector perform rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Monday, October 23rd. Royal Bank of Canada reiterated a hold rating on shares of Alexandria Real Estate Equities in a report on Monday, October 23rd. Finally, Canaccord Genuity reiterated a buy rating and issued a $20.37 price objective on shares of Alexandria Real Estate Equities in a report on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Alexandria Real Estate Equities currently has an average rating of Buy and an average target price of $100.62.
Alexandria Real Estate Equities (NYSE ARE) traded down $0.19 on Tuesday, hitting $124.93. The stock had a trading volume of 558,200 shares, compared to its average volume of 1,069,800. Alexandria Real Estate Equities has a 1 year low of $106.89 and a 1 year high of $134.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market cap of $12,010.00, a PE ratio of 141.97, a P/E/G ratio of 2.81 and a beta of 0.84.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.96). Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The firm had revenue of $285.60 million during the quarter, compared to analysts’ expectations of $286.11 million. During the same quarter in the previous year, the company posted $1.39 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 24.0% compared to the same quarter last year. research analysts expect that Alexandria Real Estate Equities will post 6.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, December 28th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.86. This represents a $3.60 annualized dividend and a yield of 2.88%. Alexandria Real Estate Equities’s dividend payout ratio is currently 409.09%.
In related news, EVP Thomas J. Andrews sold 5,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $125.26, for a total transaction of $626,300.00. Following the completion of the sale, the executive vice president now directly owns 146,916 shares in the company, valued at approximately $18,402,698.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joel S. Marcus sold 27,500 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $129.60, for a total value of $3,564,000.00. Following the sale, the chief executive officer now owns 623,936 shares of the company’s stock, valued at $80,862,105.60. The disclosure for this sale can be found here. Insiders have sold a total of 62,250 shares of company stock valued at $7,986,230 over the last 90 days. 1.51% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Spirit of America Management Corp NY boosted its holdings in Alexandria Real Estate Equities by 388.5% during the 4th quarter. Spirit of America Management Corp NY now owns 6,350 shares of the real estate investment trust’s stock valued at $829,000 after acquiring an additional 5,050 shares during the period. National Pension Service bought a new position in Alexandria Real Estate Equities during the 4th quarter valued at approximately $14,579,000. Bank of Montreal Can raised its position in Alexandria Real Estate Equities by 156.7% during the 4th quarter. Bank of Montreal Can now owns 374,630 shares of the real estate investment trust’s stock valued at $48,924,000 after purchasing an additional 228,688 shares during the last quarter. Solaris Asset Management LLC raised its position in Alexandria Real Estate Equities by 60.4% during the 4th quarter. Solaris Asset Management LLC now owns 1,885 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 710 shares during the last quarter. Finally, Simplex Trading LLC bought a new position in Alexandria Real Estate Equities during the 4th quarter valued at approximately $244,000. Institutional investors own 95.74% of the company’s stock.
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Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.
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