Alexandria Real Estate Equities, Inc. (ARE) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered Alexandria Real Estate Equities from a buy rating to a hold rating in a report on Thursday, August 10th. Barclays PLC increased their price objective on Alexandria Real Estate Equities from $129.00 to $130.00 and gave the stock an overweight rating in a report on Tuesday, July 18th. Finally, TheStreet upgraded Alexandria Real Estate Equities from a c rating to a b- rating in a report on Monday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $124.50.

Alexandria Real Estate Equities (ARE) opened at 120.01 on Wednesday. Alexandria Real Estate Equities has a 1-year low of $101.51 and a 1-year high of $123.89. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 270.90 and a beta of 0.86. The company has a 50-day moving average price of $120.39 and a 200 day moving average price of $116.47.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.50. Alexandria Real Estate Equities had a return on equity of 3.11% and a net margin of 9.45%. The business had revenue of $273.10 million during the quarter, compared to analyst estimates of $277.40 million. During the same period last year, the company earned $1.36 earnings per share. Alexandria Real Estate Equities’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts anticipate that Alexandria Real Estate Equities will post $1.46 earnings per share for the current year.

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In other Alexandria Real Estate Equities news, CEO Joel S. Marcus sold 13,893 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $121.22, for a total transaction of $1,684,109.46. Following the transaction, the chief executive officer now directly owns 705,829 shares in the company, valued at $85,560,591.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joel S. Marcus sold 15,500 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $121.16, for a total value of $1,877,980.00. Following the transaction, the chief executive officer now owns 689,436 shares in the company, valued at $83,532,065.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,893 shares of company stock worth $5,888,629. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Alexandria Real Estate Equities by 3,165.7% in the first quarter. BlackRock Inc. now owns 8,350,227 shares of the real estate investment trust’s stock valued at $922,867,000 after buying an additional 8,094,530 shares during the period. Vanguard Group Inc. raised its position in Alexandria Real Estate Equities by 20.5% in the first quarter. Vanguard Group Inc. now owns 14,752,505 shares of the real estate investment trust’s stock valued at $1,630,446,000 after buying an additional 2,504,746 shares during the period. State Street Corp raised its position in Alexandria Real Estate Equities by 31.4% in the first quarter. State Street Corp now owns 4,969,276 shares of the real estate investment trust’s stock valued at $549,191,000 after buying an additional 1,186,353 shares during the period. JPMorgan Chase & Co. raised its position in Alexandria Real Estate Equities by 152.5% in the first quarter. JPMorgan Chase & Co. now owns 1,742,259 shares of the real estate investment trust’s stock valued at $192,555,000 after buying an additional 1,052,130 shares during the period. Finally, Cbre Clarion Securities LLC raised its position in Alexandria Real Estate Equities by 67.5% in the second quarter. Cbre Clarion Securities LLC now owns 2,244,374 shares of the real estate investment trust’s stock valued at $270,380,000 after buying an additional 904,575 shares during the period.

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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