Alexandria Real Estate Equities (ARE) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $136.00 price target on the real estate investment trust’s stock.

According to Zacks, “Shares of Alexandria have outperformed the industry in the past six months. Moreover, the stock has seen the Zacks Consensus Estimate for first quarter 2018 funds from operations (FFO) per share being revised upward in two months’ time. Notably, strong fundamentals of the life science industry have enabled the company’s Class A properties in upscale locations to enjoy high occupancy. Also, Alexandria’s effort to improve credit profile is encouraging. It has adequate capital buffer which will likely cushion its position during any adverse situation. However, dilutive impact of dispositions on earnings and rise in interest rates remain concerns.”

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ARE has been the topic of several other reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $135.00 price target on shares of Alexandria Real Estate Equities in a research note on Monday, February 12th. Canaccord Genuity reaffirmed a buy rating and issued a $20.37 price target on shares of Alexandria Real Estate Equities in a research note on Monday, December 11th. Bank of America raised Alexandria Real Estate Equities from a neutral rating to a buy rating and set a $133.00 price target on the stock in a research note on Monday, December 4th. Barclays upped their price target on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an overweight rating in a research note on Tuesday, January 30th. Finally, TheStreet cut Alexandria Real Estate Equities from a b- rating to a c rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $102.20.

Shares of Alexandria Real Estate Equities stock opened at $122.07 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The company has a market cap of $12,469.59, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. Alexandria Real Estate Equities has a 52 week low of $111.59 and a 52 week high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($1.16). The business had revenue of $298.79 million for the quarter, compared to the consensus estimate of $293.63 million. Alexandria Real Estate Equities had a net margin of 14.77% and a return on equity of 3.08%. Alexandria Real Estate Equities’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 EPS. equities analysts predict that Alexandria Real Estate Equities will post 6.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a $0.90 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $3.60 annualized dividend and a yield of 2.95%. Alexandria Real Estate Equities’s payout ratio is 59.80%.

In other news, CEO Joel S. Marcus sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $120.86, for a total value of $604,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dean A. Shigenaga sold 29,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $125.21, for a total value of $3,631,090.00. Following the completion of the sale, the chief financial officer now directly owns 147,864 shares in the company, valued at $18,514,051.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,618 shares of company stock worth $8,935,609. 1.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Pension Service purchased a new stake in shares of Alexandria Real Estate Equities in the fourth quarter worth $14,579,000. Retirement Systems of Alabama grew its stake in shares of Alexandria Real Estate Equities by 1.2% in the fourth quarter. Retirement Systems of Alabama now owns 82,171 shares of the real estate investment trust’s stock worth $10,731,000 after acquiring an additional 964 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Alexandria Real Estate Equities in the third quarter worth $799,000. Toronto Dominion Bank grew its stake in shares of Alexandria Real Estate Equities by 16.1% in the fourth quarter. Toronto Dominion Bank now owns 41,109 shares of the real estate investment trust’s stock worth $5,367,000 after acquiring an additional 5,703 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Alexandria Real Estate Equities by 12.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 479,200 shares of the real estate investment trust’s stock worth $62,579,000 after acquiring an additional 51,653 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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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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