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

JMP Securities reissued their market outperform rating on shares of Alexandria Real Estate Equities (NYSE:ARE) in a research note published on Wednesday,Benzinga reports. They currently have a $130.00 price target on the real estate investment trust’s stock.

A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $112.00 in a research report on Friday, November 15th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. 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, October 23rd. Royal Bank of Canada cut their price target on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Finally, Wedbush restated an “outperform” rating and set a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Alexandria Real Estate Equities has an average rating of “Hold” and an average price target of $121.30.

Alexandria Real Estate Equities Stock Performance

Alexandria Real Estate Equities stock opened at $95.98 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $16.77 billion, a PE ratio of 58.52, a P/E/G ratio of 3.85 and a beta of 1.16. The company has a 50 day moving average price of $101.92 and a 200-day moving average price of $111.87. Alexandria Real Estate Equities has a fifty-two week low of $94.35 and a fifty-two week high of $130.14.

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

Alexandria Real Estate Equities announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. This is a positive change 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 dividend on an annualized basis and a yield of 5.50%. Alexandria Real Estate Equities’s dividend payout ratio is presently 321.95%.

Institutional Trading of Alexandria Real Estate Equities

Large investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of Alexandria Real Estate Equities by 4.3% in the second quarter. Sei Investments Co. now owns 14,095 shares of the real estate investment trust’s stock worth $1,649,000 after acquiring an additional 581 shares during the period. AQR Capital Management LLC raised its stake in shares of Alexandria Real Estate Equities by 160.5% during the 2nd quarter. AQR Capital Management LLC now owns 40,663 shares of the real estate investment trust’s stock valued at $4,703,000 after buying an additional 25,056 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Alexandria Real Estate Equities by 10.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 294 shares during the last quarter. Truist Financial Corp grew its holdings in Alexandria Real Estate Equities by 7.5% during the second quarter. Truist Financial Corp now owns 41,871 shares of the real estate investment trust’s stock worth $4,898,000 after acquiring an additional 2,904 shares during the period. Finally, Brown Financial Advisors acquired a new position in Alexandria Real Estate Equities in the second quarter valued at approximately $696,000. Hedge funds and other institutional investors 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.