Alexandria Real Estate Equities (NYSE:ARE) Price Target Cut to $124.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price cut by equities researchers at Evercore ISI from $129.00 to $124.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential upside of 4.36% from the company’s current price.

A number of other research analysts have also issued reports on ARE. Royal Bank of Canada dropped their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Jefferies Financial Group downgraded 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. Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Finally, Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $130.00 to $125.00 in a report on Friday, September 13th. Seven 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 an average rating of “Hold” and an average target price of $132.89.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock traded up $0.85 during midday trading on Wednesday, hitting $118.82. The company had a trading volume of 301,669 shares, compared to its average volume of 969,335. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 110.89, a PEG ratio of 3.99 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The company’s 50 day simple moving average is $119.05 and its 200 day simple moving average is $118.78. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted 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). The firm 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%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.26 earnings per share. Research analysts anticipate that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of large investors have recently added to or reduced their stakes in ARE. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Alexandria Real Estate Equities by 14.1% in the first 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Alexandria Real Estate Equities by 2.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock valued at $41,482,000 after buying an additional 9,187 shares in the last quarter. Norden Group LLC acquired a new stake in Alexandria Real Estate Equities during the 1st quarter valued at $963,000. Vanguard Group Inc. increased its position in Alexandria Real Estate Equities by 0.6% during the first quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after buying an additional 156,643 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Alexandria Real Estate Equities by 301.6% in the first quarter. SG Americas Securities LLC now owns 71,743 shares of the real estate investment trust’s stock valued at $9,248,000 after acquiring an additional 53,877 shares in the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

About Alexandria Real Estate Equities

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.