Alexandria Real Estate Equities (NYSE:ARE) Given “Neutral” Rating at Wedbush

Alexandria Real Estate Equities (NYSE:ARE)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday,RTT News reports. They currently have a $104.00 price target on the real estate investment trust’s stock. Wedbush’s price objective suggests a potential upside of 8.36% from the stock’s previous close.

ARE has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday. Evercore ISI cut 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 report on Wednesday, October 23rd. Robert W. Baird dropped their price target on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the stock from $135.00 to $112.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada lowered their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Hold” and a consensus target price of $121.30.

Alexandria Real Estate Equities Price Performance

Shares of ARE traded down $1.27 during midday trading on Wednesday, hitting $95.98. The company’s stock had a trading volume of 1,585,669 shares, compared to its average volume of 1,411,868. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56. Alexandria Real Estate Equities has a one year low of $94.35 and a one year high of $130.14. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 58.52, a price-to-earnings-growth ratio of 3.85 and a beta of 1.16. The company’s fifty day simple moving average is $101.92 and its two-hundred day simple moving average is $111.87.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several large investors have recently added to or reduced their stakes in ARE. Catalyst Capital Advisors LLC purchased a new stake in shares of Alexandria Real Estate Equities in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Alexandria Real Estate Equities during the third quarter worth $30,000. Venturi Wealth Management LLC lifted its stake in Alexandria Real Estate Equities by 144.0% during the 3rd 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 during the 3rd quarter worth $43,000. Finally, M&R Capital Management Inc. purchased a new stake in shares of Alexandria Real Estate Equities in the third quarter valued at about $50,000. 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.