Alexandria Real Estate Equities (NYSE:ARE) Price Target Lowered to $130.00 at Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its price objective lowered by Royal Bank of Canada from $135.00 to $130.00 in a report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. JMP Securities restated a market outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Wedbush cut shares of Alexandria Real Estate Equities from an outperform rating to a neutral rating and cut their target price for the stock from $140.00 to $130.00 in a report on Wednesday, July 24th. Jefferies Financial Group cut shares of 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 report on Friday. Evercore ISI cut shares of Alexandria Real Estate Equities from an outperform rating to an inline rating and cut their target price for the stock from $133.00 to $126.00 in a report on Thursday, July 25th. Finally, Bank of America lowered Alexandria Real Estate Equities from a buy rating to a neutral rating and dropped their price target for the stock from $151.00 to $126.00 in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of Hold and an average target price of $131.22.

Alexandria Real Estate Equities Price Performance

NYSE ARE traded up $3.08 on Monday, reaching $115.22. 1,166,335 shares of the company’s stock traded hands, compared to its average volume of 934,414. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. 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 stock has a 50-day simple moving average of $118.00 and a 200 day simple moving average of $120.44. The stock has a market cap of $20.16 billion, a PE ratio of 109.27, a P/E/G ratio of 4.00 and a beta of 1.15.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business had revenue of $766.70 million for the quarter, compared to the consensus estimate of $775.03 million. During the same quarter in the previous year, the business earned $2.24 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that Alexandria Real Estate Equities will post 9.48 earnings per share for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.30 per share. The ex-dividend date was Friday, June 28th. This represents a $5.20 annualized dividend and a yield of 4.51%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 485.99%.

Insider Buying and Selling at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the transaction, the insider now owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new position in shares of Alexandria Real Estate Equities during the fourth quarter valued at $25,000. Capital Advisors Ltd. LLC bought a new position in shares of Alexandria Real Estate Equities during the fourth quarter valued at $25,000. HHM Wealth Advisors LLC increased its holdings in shares of Alexandria Real Estate Equities by 340.9% during the fourth quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Alexandria Real Estate Equities by 275.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 171 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Alexandria Real Estate Equities during the first quarter valued at $30,000. Hedge funds and other institutional investors 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.