Zacks Investment Research cut shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) from a buy rating to a hold rating in a research note issued to investors on Wednesday, July 19th.
According to Zacks, “Shares of Alexandria outperformed the Zacks-categorized REIT and Equity Trust – Other industry over the past six months. Its second-quarter estimate for funds from operations (FFO) per share remained stable lately, ahead of the company’s earnings release. The company enjoys high occupancy, which is driven 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. However, earnings-dilutive impact of disposition, rise in rate of interest and foreign currency fluctuations remain its concerns.”
ARE has been the topic of a number of other research reports. Barclays PLC upped their target price on shares of Alexandria Real Estate Equities from $126.00 to $129.00 and gave the stock an overweight rating in a report on Wednesday, April 19th. BidaskClub lowered shares of Alexandria Real Estate Equities from a buy rating to a hold rating in a research note on Saturday, July 8th. TheStreet upgraded shares of Alexandria Real Estate Equities from a c rating to a b- rating in a research note on Monday, May 1st. Finally, Evercore ISI upgraded shares of Alexandria Real Estate Equities from an in-line rating to an outperform rating and set a $123.00 price objective for the company in a research note on Tuesday, March 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $122.71.
Shares of Alexandria Real Estate Equities (NYSE ARE) opened at 120.61 on Wednesday. Alexandria Real Estate Equities has a 52-week low of $101.51 and a 52-week high of $123.89. The firm has a market cap of $11.29 billion, a P/E ratio of 272.26 and a beta of 0.86. The company has a 50 day moving average price of $119.97 and a 200-day moving average price of $115.75.
Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.50. Alexandria Real Estate Equities had a net margin of 9.45% and a return on equity of 3.11%. The company had revenue of $273.10 million for the quarter, compared to analyst estimates of $277.40 million. During the same quarter in the prior year, the business posted $1.36 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. On average, analysts expect that Alexandria Real Estate Equities will post $1.54 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://sportsperspectives.com/2017/08/06/alexandria-real-estate-equities-inc-nyseare-stock-rating-lowered-by-zacks-investment-research-updated-updated.html.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.86 per share. The ex-dividend date was Wednesday, June 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.85%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 860.02%.
In other news, Director James H. Richardson sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were 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 owns 61,000 shares in the company, valued at approximately $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 firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $119.00, for a total transaction of $238,000.00. Following the sale, the insider now owns 87,867 shares of the company’s stock, valued at approximately $10,456,173. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,500 shares of company stock valued at $2,303,665. 1.60% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. 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 during 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 during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Alexandria Real Estate Equities by 4.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,040 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 41 shares during the last quarter. Invictus RG acquired a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at $133,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Alexandria Real Estate Equities during the first quarter valued at $179,000.
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.
Get a free copy of the Zacks research report on Alexandria Real Estate Equities (ARE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alexandria Real Estate Equities Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alexandria Real Estate Equities Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.