Evercore ISI Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $124.00

Alexandria Real Estate Equities (NYSE:ARE) had its price target reduced by Evercore ISI from $129.00 to $124.00 in a report published on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on ARE. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $130.00 to $125.00 in a research report on Friday, September 13th. JMP Securities reiterated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price objective for the stock from $136.00 to $127.00 in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $131.22.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $113.03 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 106.50, a PEG ratio of 3.99 and a beta of 1.16. The firm’s 50 day simple moving average is $119.21 and its 200-day simple moving average is $118.77. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted 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 business had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.26 earnings per share. Analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.60%. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.98%.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Alexandria Real Estate Equities by 14.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,833 shares of the real estate investment trust’s stock valued at $36,331,000 after purchasing an additional 34,854 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Alexandria Real Estate Equities by 2.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock valued at $41,482,000 after acquiring an additional 9,187 shares during the last quarter. Norden Group LLC purchased a new position in Alexandria Real Estate Equities in the first quarter worth approximately $963,000. Vanguard Group Inc. increased its stake in Alexandria Real Estate Equities by 0.6% during the first quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock worth $3,452,814,000 after acquiring an additional 156,643 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Alexandria Real Estate Equities by 301.6% in the first quarter. SG Americas Securities LLC now owns 71,743 shares of the real estate investment trust’s stock valued at $9,248,000 after purchasing an additional 53,877 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Company Profile

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.