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

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) have earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $122.00.

ARE has been the subject of a number of analyst reports. BidaskClub upgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Barclays PLC upped 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.

In other news, insider Peter M. Moglia sold 2,000 shares of the business’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 owns 87,867 shares of the company’s stock, valued at $10,456,173. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joel S. Marcus sold 15,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $121.16, for a total transaction of $1,877,980.00. Following the completion of the sale, the chief executive officer now directly owns 689,436 shares in the company, valued at approximately $83,532,065.76. The disclosure for this sale can be found here. Insiders sold 44,893 shares of company stock valued at $5,417,069 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in ARE. DekaBank Deutsche Girozentrale raised its stake in shares of Alexandria Real Estate Equities by 147.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,375 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 3,205 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Alexandria Real Estate Equities by 12.4% in the first quarter. American Century Companies Inc. now owns 532,910 shares of the real estate investment trust’s stock worth $58,897,000 after buying an additional 58,992 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Alexandria Real Estate Equities by 156.0% in the first quarter. Advisors Asset Management Inc. now owns 10,051 shares of the real estate investment trust’s stock worth $1,111,000 after buying an additional 6,125 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Alexandria Real Estate Equities by 1.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 17,116 shares of the real estate investment trust’s stock worth $1,892,000 after buying an additional 311 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Alexandria Real Estate Equities by 2.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 128,162 shares of the real estate investment trust’s stock worth $14,164,000 after buying an additional 3,390 shares in the last quarter.

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Shares of Alexandria Real Estate Equities (NYSE ARE) traded down 0.01% during midday trading on Wednesday, hitting $121.30. 382,582 shares of the company traded hands. The stock’s 50-day moving average is $120.72 and its 200 day moving average is $117.05. Alexandria Real Estate Equities has a 12-month low of $101.51 and a 12-month high of $123.89. The stock has a market capitalization of $11.36 billion, a P/E ratio of 273.81 and a beta of 0.87.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.50. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, analysts expect that Alexandria Real Estate Equities will post $1.46 earnings per share for the current year.

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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