Evercore ISI Downgrades Alexandria Real Estate Equities (NYSE:ARE) to Inline

Alexandria Real Estate Equities (NYSE:ARE) was downgraded by research analysts at Evercore ISI from an “outperform” rating to an “inline” rating in a report released on Thursday, Briefing.com reports. They presently have a $126.00 price target on the real estate investment trust’s stock, down from their prior price target of $133.00. Evercore ISI’s target price indicates a potential upside of 9.02% from the stock’s previous close.

ARE has been the topic of a number of other reports. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Tuesday. Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $130.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.71.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $115.57 on Thursday. The stock has a market capitalization of $20.21 billion, a P/E ratio of 108.01, a P/E/G ratio of 3.04 and a beta of 1.15. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The company’s fifty day moving average is $118.89 and its two-hundred day moving average is $121.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). The company had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 earnings per share. On average, sell-side analysts predict that Alexandria Real Estate Equities will post 9.49 earnings per share for the current year.

Insider Transactions at Alexandria Real Estate Equities

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the sale, the insider now owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.15% of the company’s stock.

Institutional Trading of Alexandria Real Estate Equities

A number of hedge funds have recently made changes to their positions in ARE. Norges Bank acquired a new position in Alexandria Real Estate Equities in the fourth quarter worth $2,086,085,000. M&G Plc acquired a new position in Alexandria Real Estate Equities in the first quarter worth $204,001,000. Jennison Associates LLC boosted its holdings in Alexandria Real Estate Equities by 180.3% in the fourth quarter. Jennison Associates LLC now owns 1,010,943 shares of the real estate investment trust’s stock worth $128,157,000 after purchasing an additional 650,248 shares during the period. Russell Investments Group Ltd. boosted its holdings in Alexandria Real Estate Equities by 153.0% in the first quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after purchasing an additional 470,076 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in Alexandria Real Estate Equities in the first quarter worth $55,075,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

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.