Evercore ISI Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $124.00

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

Other equities research analysts also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $130.00 in a research note on Wednesday, July 24th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $151.00 to $126.00 in a report on Monday, July 29th. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada decreased their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average target price of $132.89.

Alexandria Real Estate Equities Trading Up 0.7 %

NYSE:ARE traded up $0.85 during trading hours on Wednesday, reaching $118.82. 301,669 shares of the stock were exchanged, compared to its average volume of 969,335. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The business has a 50-day moving average of $119.05 and a two-hundred day moving average of $118.78. The company has a market capitalization 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 quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). The firm had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. On average, equities analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Arbor Capital Management Inc. ADV boosted its position in shares of Alexandria Real Estate Equities by 1.1% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 8,639 shares of the real estate investment trust’s stock valued at $1,000,000 after purchasing an additional 93 shares during the period. SPC Financial Inc. grew its position in shares of Alexandria Real Estate Equities by 5.4% during the first quarter. SPC Financial Inc. now owns 1,950 shares of the real estate investment trust’s stock worth $251,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Alexandria Real Estate Equities by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,544 shares of the real estate investment trust’s stock worth $1,584,000 after acquiring an additional 100 shares during the last quarter. Presima Securities ULC increased its holdings in shares of Alexandria Real Estate Equities by 0.9% in the 3rd quarter. Presima Securities ULC now owns 11,725 shares of the real estate investment trust’s stock valued at $1,392,000 after acquiring an additional 100 shares during the period. Finally, GAMMA Investing LLC raised its position in Alexandria Real Estate Equities by 7.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,414 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

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.