Wedbush Reaffirms Outperform Rating for Alexandria Real Estate Equities (NYSE:ARE)

Alexandria Real Estate Equities (NYSE:ARE)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Friday,RTT News reports. They presently have a $110.00 target price on the real estate investment trust’s stock, down from their prior target price of $120.00. Wedbush’s price objective would indicate a potential upside of 4.33% from the company’s current price.

ARE has been the topic of several other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price (down from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Evercore ISI lowered their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. JMP Securities cut their price target on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $125.82.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $105.43 on Friday. The firm has a market cap of $18.42 billion, a P/E ratio of 64.29, a P/E/G ratio of 4.05 and a beta of 1.14. Alexandria Real Estate Equities has a 52 week low of $102.89 and a 52 week high of $135.45. The business’s 50 day moving average price is $113.06 and its 200 day moving average price is $116.59. 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 (NYSE:ARE) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates 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 1.31% and a net margin of 9.62%. 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 earned $2.26 EPS. On average, sell-side analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Institutional Trading of Alexandria Real Estate Equities

A number of institutional investors have recently modified their holdings of ARE. Inspire Trust Co. N.A. boosted its holdings in Alexandria Real Estate Equities by 17.6% during the third quarter. Inspire Trust Co. N.A. now owns 10,000 shares of the real estate investment trust’s stock worth $1,188,000 after buying an additional 1,500 shares in the last quarter. Tidal Investments LLC increased its holdings in Alexandria Real Estate Equities by 26.6% in the third quarter. Tidal Investments LLC now owns 16,808 shares of the real estate investment trust’s stock valued at $1,996,000 after buying an additional 3,535 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at approximately $43,000. Virtu Financial LLC purchased a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $276,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Alexandria Real Estate Equities by 5,113.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 12,825 shares of the real estate investment trust’s stock worth $1,523,000 after acquiring an additional 12,579 shares during the period. 96.54% of the stock is currently 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.