Analysts Set Alexandria Real Estate Equities, Inc. (ARE) Price Target at $122.00

Alexandria Real Estate Equities, Inc. (NYSE:ARE) has received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $120.50.

Several brokerages have recently commented on ARE. Zacks Investment Research cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays PLC lifted 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. BidaskClub lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, TheStreet raised shares of Alexandria Real Estate Equities from a “c” rating to a “b-” rating in a report on Monday, May 1st.

In other news, CEO Joel S. Marcus sold 13,893 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $121.22, for a total value of $1,684,109.46. Following the sale, the chief executive officer now directly owns 705,829 shares of the company’s stock, valued at approximately $85,560,591.38. The transaction was disclosed in a legal filing 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 Wednesday, June 21st. The shares were sold at an average price of $119.27, for a total transaction of $238,540.00. Following the completion of the sale, the insider now directly owns 85,867 shares in the company, valued at $10,241,357.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,393 shares of company stock worth $3,987,774. Insiders own 1.51% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 worth $1,630,446,000 after buying an additional 2,504,746 shares during the last quarter. BlackRock Inc. increased 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 worth $922,867,000 after buying an additional 8,094,530 shares during the last quarter. State Street Corp increased 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 worth $549,191,000 after buying an additional 1,186,353 shares during the last quarter. Principal Financial Group Inc. increased its position in Alexandria Real Estate Equities by 19.5% in the second quarter. Principal Financial Group Inc. now owns 3,034,982 shares of the real estate investment trust’s stock worth $365,624,000 after buying an additional 494,964 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Alexandria Real Estate Equities by 60.6% in the second quarter. Bank of New York Mellon Corp now owns 2,147,368 shares of the real estate investment trust’s stock worth $258,693,000 after buying an additional 810,466 shares during the last quarter.

Alexandria Real Estate Equities (NYSE ARE) opened at 120.62 on Tuesday. 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 price-to-earnings ratio of 272.28 and a beta of 0.86. The company has a 50-day moving average of $120.12 and a 200 day moving average of $115.85.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $273.10 million during the quarter, compared to analysts’ expectations of $277.40 million. Alexandria Real Estate Equities had a net margin of 9.45% and a return on equity of 3.11%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. On average, equities research analysts anticipate that Alexandria Real Estate Equities will post $1.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.86 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Wednesday, June 28th. Alexandria Real Estate Equities’s dividend payout ratio is currently 860.02%.

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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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