Alexandria Real Estate Equities (NYSE:ARE) had its price objective increased by Barclays from $153.00 to $155.00 in a research note published on Tuesday, January 14th, BenzingaRatingsTable reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.
ARE has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded Alexandria Real Estate Equities from a neutral rating to an overweight rating and lifted their target price for the stock from $147.00 to $169.00 in a research note on Wednesday, December 18th. Royal Bank of Canada cut Alexandria Real Estate Equities from a top pick rating to an outperform rating and lifted their target price for the stock from $155.00 to $165.00 in a research note on Wednesday, December 18th. Finally, Raymond James set a $26.00 target price on Alexandria Real Estate Equities and gave the stock a strong-buy rating in a research note on Saturday, December 21st. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $128.00.
NYSE:ARE traded down $0.09 during trading hours on Tuesday, hitting $167.84. 771,196 shares of the company traded hands, compared to its average volume of 1,046,273. The company has a quick ratio of 0.37, a current ratio of 0.19 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $161.85 and its 200-day simple moving average is $155.32. Alexandria Real Estate Equities has a one year low of $128.71 and a one year high of $169.85. The company has a market cap of $20.57 billion, a PE ratio of 54.32, a PEG ratio of 5.51 and a beta of 0.76.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, February 3rd. The real estate investment trust reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.04). Alexandria Real Estate Equities had a net margin of 23.72% and a return on equity of 4.07%. The company had revenue of $408.11 million for the quarter, compared to the consensus estimate of $398.98 million. During the same quarter last year, the business posted $1.68 earnings per share. Alexandria Real Estate Equities’s revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts expect that Alexandria Real Estate Equities will post 7.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.03 dividend. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, December 30th. Alexandria Real Estate Equities’s payout ratio is currently 59.20%.
A number of institutional investors have recently made changes to their positions in ARE. Nuveen Asset Management LLC grew its holdings in Alexandria Real Estate Equities by 179.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,711,959 shares of the real estate investment trust’s stock valued at $241,541,000 after buying an additional 1,098,573 shares in the last quarter. Zimmer Partners LP purchased a new position in Alexandria Real Estate Equities during the 2nd quarter valued at about $124,865,000. PGGM Investments grew its holdings in Alexandria Real Estate Equities by 105.0% during the 4th quarter. PGGM Investments now owns 1,294,410 shares of the real estate investment trust’s stock valued at $209,151,000 after buying an additional 662,920 shares in the last quarter. Brookfield Asset Management Inc. purchased a new position in Alexandria Real Estate Equities during the 2nd quarter valued at about $92,789,000. Finally, Vanguard Group Inc. grew its holdings in Alexandria Real Estate Equities by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 18,278,737 shares of the real estate investment trust’s stock valued at $2,578,947,000 after buying an additional 414,930 shares in the last quarter. Institutional investors and hedge funds own 93.34% of the company’s stock.
Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust (“REIT”) uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet (“SF”) as of March 31, 2019.
