Alexandria Real Estate Equities, Inc. (ARE) Given Average Rating of “Buy” by Brokerages

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) have earned an average recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $122.00.

A number of analysts have weighed in on the stock. BidaskClub raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Barclays PLC increased their price target on shares of Alexandria Real Estate Equities from $129.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th.

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In other news, COO Stephen Richardson sold 7,500 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $120.56, for a total value of $904,200.00. Following the completion of the transaction, the chief operating officer now owns 136,972 shares in the company, valued at approximately $16,513,344.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joel S. Marcus sold 13,893 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $121.22, for a total transaction of $1,684,109.46. Following the completion of the transaction, the chief executive officer now owns 705,829 shares of the company’s stock, valued at approximately $85,560,591.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,893 shares of company stock valued at $5,417,069. Corporate insiders own 1.51% of the company’s stock.

Several hedge funds have recently made changes to their positions in ARE. Vanguard Group Inc. increased its position in shares of Alexandria Real Estate Equities by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 15,723,151 shares of the real estate investment trust’s stock worth $1,894,168,000 after purchasing an additional 970,646 shares in the last quarter. BlackRock Inc. increased its position in shares of Alexandria Real Estate Equities by 5.5% during the 2nd quarter. BlackRock Inc. now owns 8,810,925 shares of the real estate investment trust’s stock worth $1,061,452,000 after purchasing an additional 460,698 shares in the last quarter. State Street Corp increased its position in shares of Alexandria Real Estate Equities by 0.6% during the 2nd quarter. State Street Corp now owns 4,999,505 shares of the real estate investment trust’s stock worth $602,286,000 after purchasing an additional 30,229 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Alexandria Real Estate Equities by 19.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,034,982 shares of the real estate investment trust’s stock worth $365,624,000 after purchasing an additional 494,964 shares in the last quarter. Finally, Cbre Clarion Securities LLC increased its position in shares of Alexandria Real Estate Equities by 67.5% during the 2nd quarter. Cbre Clarion Securities LLC now owns 2,244,374 shares of the real estate investment trust’s stock worth $270,380,000 after purchasing an additional 904,575 shares in the last quarter.

Alexandria Real Estate Equities (NYSE:ARE) traded down 0.01% during midday trading on Wednesday, hitting $121.30. 382,582 shares of the stock traded hands. The stock has a market cap of $11.36 billion, a PE ratio of 273.81 and a beta of 0.87. The company has a 50-day moving average of $120.72 and a 200-day moving average of $117.05. Alexandria Real Estate Equities has a 1-year low of $101.51 and a 1-year high of $123.89.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.50. Alexandria Real Estate Equities had a net margin of 9.45% and a return on equity of 3.11%. The firm had revenue of $273.10 million during the quarter, compared to the consensus estimate of $277.40 million. During the same period in the prior year, the firm earned $1.36 EPS. The business’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Alexandria Real Estate Equities will post $1.46 EPS for the current fiscal year.

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.




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