Alexandria Real Estate Equities (NYSE:ARE) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Alexandria Real Estate Equities (NYSE:ARE) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $130.00 price target on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on ARE. Evercore ISI lowered their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Robert W. Baird reduced their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 target price (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $121.30.

Alexandria Real Estate Equities Stock Down 1.3 %

Shares of ARE opened at $95.98 on Wednesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm has a market cap of $16.77 billion, a P/E ratio of 58.52, a PEG ratio of 3.85 and a beta of 1.16. The stock’s 50 day moving average is $101.92 and its two-hundred day moving average is $111.87. Alexandria Real Estate Equities has a 12 month low of $94.35 and a 12 month high of $130.14.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 EPS for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. Analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.32 dividend. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.50%. Alexandria Real Estate Equities’s payout ratio is 321.95%.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Alexandria Real Estate Equities during the third quarter worth approximately $30,000. Venturi Wealth Management LLC raised its holdings in Alexandria Real Estate Equities by 144.0% in the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 180 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Alexandria Real Estate Equities in the third quarter worth approximately $43,000. Finally, M&R Capital Management Inc. acquired a new position in Alexandria Real Estate Equities during the 3rd quarter worth approximately $50,000. 96.54% of the stock is owned by institutional investors and hedge funds.

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.