Bank of America Corporation Raises Alexandria Real Estate Equities, Inc. (ARE) Price Target to $133.00

Alexandria Real Estate Equities, Inc. (NYSE:ARE) had its price target raised by Bank of America Corporation from $129.00 to $133.00 in a research report issued to clients and investors on Monday, November 6th. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America Corporation’s target price would indicate a potential upside of 4.90% from the stock’s current price.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Barclays PLC upped their target price on Alexandria Real Estate Equities from $129.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. National Bank Financial lowered Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $20.00 to $18.00 in a report on Monday, October 23rd. Royal Bank Of Canada reissued a “hold” rating on shares of Alexandria Real Estate Equities in a report on Monday, October 23rd. Finally, Mizuho reissued a “buy” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $113.17.

Shares of Alexandria Real Estate Equities (NYSE ARE) traded down $0.16 during mid-day trading on Monday, reaching $126.79. The company had a trading volume of 158,341 shares, compared to its average volume of 507,161. Alexandria Real Estate Equities has a 52-week low of $105.74 and a 52-week high of $128.29. The firm has a market capitalization of $12,151.38, a price-to-earnings ratio of 21.48, a PEG ratio of 3.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.21 and a quick ratio of 0.21.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.96). The firm had revenue of $285.60 million during the quarter, compared to analyst estimates of $286.11 million. Alexandria Real Estate Equities had a net margin of 13.21% and a return on equity of 3.69%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. equities research analysts anticipate that Alexandria Real Estate Equities will post 6.02 earnings per share for the current year.

In other news, EVP Thomas J. Andrews sold 5,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $120.41, for a total value of $602,050.00. Following the sale, the executive vice president now directly owns 153,000 shares in the company, valued at $18,422,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joel S. Marcus sold 25,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $118.99, for a total value of $2,974,750.00. Following the completion of the sale, the chief executive officer now owns 664,436 shares in the company, valued at $79,061,239.64. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $5,445,050 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Several large investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC lifted its position in shares of Alexandria Real Estate Equities by 0.3% in the second quarter. Piedmont Investment Advisors LLC now owns 2,843 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 8 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Alexandria Real Estate Equities by 0.4% during the second quarter. Gateway Investment Advisers LLC now owns 5,647 shares of the real estate investment trust’s stock worth $680,000 after buying an additional 23 shares during the period. Ameritas Investment Partners Inc. lifted its position in Alexandria Real Estate Equities by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 2,069 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 25 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Alexandria Real Estate Equities by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 17,163 shares of the real estate investment trust’s stock worth $2,068,000 after buying an additional 47 shares during the period. Finally, First Personal Financial Services lifted its position in Alexandria Real Estate Equities by 7.9% during the second quarter. First Personal Financial Services now owns 1,112 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 81 shares during the period.

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About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

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