Alexandria Real Estate Equities (NYSE:ARE) Stock Gets Price Target Reduction from Royal Bank Of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its price objective decreased by Royal Bank Of Canada from $51.00 to $47.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Evercore reiterated an “outperform” rating and issued a $59.00 target price on shares of Alexandria Real Estate Equities in a research report on Monday, September 21st. BNP Paribas Exane lowered their price target on shares of Alexandria Real Estate Equities from $40.00 to $37.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 28th. The Goldman Sachs Group upped their price objective on shares of Alexandria Real Estate Equities from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 18th. Zacks Research raised shares of Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alexandria Real Estate Equities in a report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Reduce” and a consensus target price of $49.79.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE opened at $45.22 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.14 and a quick ratio of 0.14. Alexandria Real Estate Equities has a 1 year low of $38.34 and a 1 year high of $59.76. The firm has a market capitalization of $7.87 billion, a PE ratio of -5.37 and a beta of 1.17. The business’s 50 day moving average price is $47.35 and its 200-day moving average price is $49.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing the consensus estimate of ($0.03) by ($3.71). The firm had revenue of $671.18 million during the quarter, compared to analyst estimates of $646.26 million. Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.22 earnings per share. As a group, equities research analysts expect that Alexandria Real Estate Equities will post 6.39 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 6.4%. The ex-dividend date was Wednesday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is presently -34.20%.

Insider Buying and Selling at Alexandria Real Estate Equities

In related news, Chairman Joel S. Marcus bought 5,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $49.68 per share, with a total value of $248,400.00. Following the purchase, the chairman directly owned 597,724 shares of the company’s stock, valued at $29,694,928.32. The trade was a 0.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Andres Gavinet sold 10,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $50.93, for a total value of $509,300.00. Following the completion of the sale, the chief accounting officer directly owned 102,516 shares of the company’s stock, valued at $5,221,139.88. This trade represents a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Alexandria Real Estate Equities during the second quarter worth $1,146,423,000. Dimensional Fund Advisors LP grew its stake in shares of Alexandria Real Estate Equities by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,297,222 shares of the real estate investment trust’s stock valued at $106,638,000 after buying an additional 52,733 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Alexandria Real Estate Equities in the second quarter valued at $79,253,000. Legal & General Group Plc purchased a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at $76,647,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at $64,485,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.