Alexandria Real Estate Equities (NYSE:ARE) PT Lowered to $124.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price dropped by equities researchers at Evercore ISI from $129.00 to $124.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 6.55% from the stock’s current price.

ARE has been the topic of a number of other reports. Bank of America downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Jefferies Financial Group cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price objective for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Finally, BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $131.22.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE opened at $116.38 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The company has a market cap of $20.35 billion, a price-to-earnings ratio of 108.77, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. The company has a 50-day moving average price of $119.18 and a 200-day moving average price of $118.79.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data 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). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. During the same quarter last year, the business posted $2.26 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of institutional investors have recently modified their holdings of ARE. Mather Group LLC. purchased a new stake in Alexandria Real Estate Equities during the 1st quarter valued at about $30,000. UMB Bank n.a. increased its position in shares of Alexandria Real Estate Equities by 132.8% during the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Rothschild Investment LLC purchased a new position in Alexandria Real Estate Equities in the 2nd quarter worth approximately $33,000. Riverview Trust Co bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at approximately $37,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Alexandria Real Estate Equities during the 2nd quarter valued at $43,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

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.