Alexandria Real Estate Equities (NYSE:ARE) PT Lowered to $120.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price cut by Wedbush from $130.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential upside of 3.11% from the company’s previous close.

ARE has been the subject of a number of other research reports. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Evercore ISI dropped their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday. Citigroup lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Bank of America downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $151.00 to $126.00 in a report on Monday, July 29th. Finally, BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.22.

Alexandria Real Estate Equities Price Performance

Shares of ARE stock opened at $116.38 on Wednesday. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 108.77, a PEG ratio of 3.99 and a beta of 1.16. The stock’s 50-day simple moving average is $119.18 and its 200-day simple moving average is $118.79.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alexandria Real Estate Equities by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after acquiring an additional 156,643 shares during the period. Canada Pension Plan Investment Board grew its holdings in Alexandria Real Estate Equities by 0.9% in the second quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock valued at $476,455,000 after purchasing an additional 35,216 shares during the period. M&G Plc increased its position in shares of Alexandria Real Estate Equities by 4.9% in the second quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock valued at $194,114,000 after buying an additional 77,686 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after buying an additional 1,411,304 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Alexandria Real Estate Equities by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock worth $122,934,000 after buying an additional 10,576 shares during the period. 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.