Brokerages Set Alexandria Real Estate Equities, Inc. (ARE) PT at $120.50

Alexandria Real Estate Equities, Inc. (NYSE:ARE) has been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $120.50.

Several equities analysts have recently weighed in on ARE shares. Barclays PLC lifted their target price on shares of Alexandria Real Estate Equities from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. TheStreet raised shares of Alexandria Real Estate Equities from a “c” rating to a “b-” rating in a report on Monday, May 1st. BidaskClub raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Tuesday, July 18th.

Alexandria Real Estate Equities (ARE) traded up 0.14% during trading on Friday, hitting $120.75. 195,164 shares of the company’s stock were exchanged. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 272.57 and a beta of 0.86. Alexandria Real Estate Equities has a 12-month low of $101.51 and a 12-month high of $123.89. The company’s 50-day moving average price is $119.97 and its 200 day moving average price is $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, meeting the consensus estimate of $1.50. The firm had revenue of $273.10 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Equities analysts forecast that Alexandria Real Estate Equities will post $1.45 earnings per share for the current fiscal year.

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

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In related news, COO Stephen Richardson sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $117.51, for a total value of $881,325.00. Following the sale, the chief operating officer now owns 108,472 shares of the company’s stock, valued at approximately $12,746,544.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joel S. Marcus sold 13,893 shares of Alexandria Real Estate Equities 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 sale, the chief executive officer now directly owns 705,829 shares in the company, valued at approximately $85,560,591.38. The disclosure for this sale can be found here. Insiders sold a total of 33,393 shares of company stock worth $3,987,774 in the last three months. 1.51% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 in the last quarter. BlackRock Inc. boosted its stake 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 in the last quarter. State Street Corp boosted its stake 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 in the last quarter. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Finally, PGGM Investments boosted its stake in Alexandria Real Estate Equities by 2.4% in the second quarter. PGGM Investments now owns 1,901,000 shares of the real estate investment trust’s stock worth $229,013,000 after buying an additional 45,000 shares in the last quarter.

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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