Zacks Investment Research upgraded shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $135.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Alexandria’s second-quarter 2017 adjusted funds from operations (FFO) came in line with the Zacks Consensus Estimate and was up 10.3% year over year. Results indicate robust growth in rental rate and strong leasing metrics. The company enjoys high occupancy, stemmed by high demand for its Class A properties in premium locations. Also, robust cash flow and solid balance sheet are its strengths. Further, in July, the company announced the creation of the Alexandria Center for AgTech – RTP. It is the initial phase of a premier multi-tenant mega campus in the Research Triangle Park, NC. Also, shares of Alexandria outperformed the industry it belongs to, year to date. However, earnings-dilutive impact of disposition, rise in rate of interest and foreign currency fluctuations remain its concerns.”
Other research analysts have also recently issued research reports about the company. TheStreet raised Alexandria Real Estate Equities from a c rating to a b- rating in a research note on Monday, May 1st. BidaskClub raised Alexandria Real Estate Equities from a hold rating to a buy rating in a research note on Thursday, June 22nd. Finally, Barclays PLC increased their price target on Alexandria Real Estate Equities from $126.00 to $129.00 and gave the stock an overweight rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $122.57.
Alexandria Real Estate Equities (NYSE ARE) traded down 0.78% on Wednesday, hitting $119.89. The stock had a trading volume of 352,880 shares. The company has a market cap of $11.22 billion, a PE ratio of 270.63 and a beta of 0.86. Alexandria Real Estate Equities has a one year low of $101.51 and a one year high of $123.89. The stock has a 50-day moving average of $120.29 and a 200-day moving average of $116.11.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results 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 company had revenue of $273.10 million during the quarter, compared to analysts’ expectations of $277.40 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities analysts expect that Alexandria Real Estate Equities will post $1.45 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.86 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, June 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.87%. Alexandria Real Estate Equities’s dividend payout ratio is 860.02%.
In other news, Director James H. Richardson sold 4,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $117.89, for a total transaction of $471,560.00. Following the completion of the sale, the director now directly owns 61,000 shares of the company’s stock, valued at $7,191,290. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter M. Moglia sold 2,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $119.00, for a total value of $238,000.00. Following the sale, the insider now directly owns 87,867 shares of the company’s stock, valued at $10,456,173. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,393 shares of company stock valued at $3,987,774. Insiders own 1.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC increased its stake in shares of Alexandria Real Estate Equities by 395.0% in the first quarter. Perigon Wealth Management LLC now owns 990 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 790 shares in the last quarter. First Personal Financial Services increased its stake in shares of Alexandria Real Estate Equities by 28.6% in the first quarter. First Personal Financial Services now owns 1,031 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 229 shares in the last quarter. Capital Analysts LLC bought a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at approximately $125,000. Invictus RG bought a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at approximately $133,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at approximately $179,000.
Alexandria Real Estate Equities Company Profile
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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