Alexandria Real Estate Equities Inc (NYSE:ARE) had its price target lifted by analysts at Barclays PLC from $126.00 to $129.00 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s target price points to a potential upside of 11.26% from the stock’s previous close.
A number of other equities analysts also recently commented on ARE. Zacks Investment Research downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. Mizuho reiterated a “buy” rating on shares of Alexandria Real Estate Equities in a research note on Friday, December 23rd. Finally, Evercore ISI upgraded Alexandria Real Estate Equities from an “in-line” rating to an “outperform” rating and set a $123.00 price target for the company in a research note on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $118.88.
Alexandria Real Estate Equities (NYSE:ARE) traded up 0.24% on Wednesday, reaching $115.94. The company had a trading volume of 798,866 shares. The firm has a 50-day moving average of $112.48 and a 200-day moving average of $110.37. The stock’s market capitalization is $10.30 billion. Alexandria Real Estate Equities has a 12 month low of $90.34 and a 12 month high of $120.96.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. The firm earned $249.20 million during the quarter, compared to analyst estimates of $181.32 million. Alexandria Real Estate Equities had a negative return on equity of 0.78% and a negative net margin of 8.78%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.33 earnings per share. On average, equities research analysts expect that Alexandria Real Estate Equities will post $1.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were paid a $0.83 dividend. The ex-dividend date was Wednesday, March 29th. This represents a $3.32 dividend on an annualized basis and a yield of 2.86%. Alexandria Real Estate Equities’s payout ratio is currently -165.17%.
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In other Alexandria Real Estate Equities news, CEO Joel S. Marcus sold 13,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $108.52, for a total value of $1,410,760.00. Following the completion of the transaction, the chief executive officer now directly owns 723,619 shares in the company, valued at $78,527,133.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Andrews sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $119.26, for a total value of $1,192,600.00. Following the completion of the transaction, the executive vice president now owns 129,000 shares of the company’s stock, valued at $15,384,540. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,250 shares of company stock valued at $9,417,210. 1.60% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Advisors LLC increased its position in shares of Alexandria Real Estate Equities by 2.9% in the third quarter. BlackRock Advisors LLC now owns 98,441 shares of the real estate investment trust’s stock worth $10,707,000 after buying an additional 2,735 shares during the last quarter. Emerald Acquisition Ltd. increased its position in shares of Alexandria Real Estate Equities by 55.9% in the third quarter. Emerald Acquisition Ltd. now owns 290,943 shares of the real estate investment trust’s stock worth $31,650,000 after buying an additional 104,280 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Alexandria Real Estate Equities during the third quarter worth approximately $30,934,000. KCG Holdings Inc. bought a new position in shares of Alexandria Real Estate Equities during the third quarter worth approximately $1,488,000. Finally, Hsbc Holdings PLC increased its position in shares of Alexandria Real Estate Equities by 34.7% in the third quarter. Hsbc Holdings PLC now owns 206,542 shares of the real estate investment trust’s stock worth $22,465,000 after buying an additional 53,178 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.
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