Zacks Investment Research Downgrades Alexandria Real Estate Equities, Inc. (ARE) to Hold

Zacks Investment Research cut shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) from a buy rating to a hold rating in a research report report published 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.”

Several other brokerages have also commented on ARE. Barclays PLC increased their price target on shares of Alexandria Real Estate Equities from $129.00 to $130.00 and gave the stock an overweight rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a research note on Thursday, June 22nd. 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 target on the stock in a research note on Tuesday, March 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $122.38.

Alexandria Real Estate Equities (NYSE ARE) traded down 0.37% during trading on Wednesday, hitting $120.40. 382,110 shares of the company traded hands. The firm has a 50 day moving average of $119.83 and a 200 day moving average of $115.50. The firm’s market cap is $10.97 billion. Alexandria Real Estate Equities has a one year low of $101.51 and a one year high of $123.18.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. Alexandria Real Estate Equities had a negative net margin of 5.03% and a positive return on equity of 0.22%. The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $261.67 million. During the same quarter in the prior year, the business posted $1.34 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 25.4% on a year-over-year basis. On average, analysts expect that Alexandria Real Estate Equities will post $1.62 earnings per share for the current fiscal year.

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The company also recently announced 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 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 yield of 2.86%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently -205.99%.

In other Alexandria Real Estate Equities news, insider Peter M. Moglia sold 4,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $118.56, for a total value of $474,240.00. Following the completion of the sale, the insider now directly owns 91,867 shares of the company’s stock, valued at approximately $10,891,751.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Peter M. Moglia sold 2,000 shares of the 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 of the company’s stock, valued at $10,241,357.09. The disclosure for this sale can be found here. Insiders sold a total of 35,674 shares of company stock worth $4,130,859 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its stake in shares of Alexandria Real Estate Equities by 2.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 191,750 shares of the real estate investment trust’s stock worth $23,101,000 after buying an additional 5,000 shares during the period. Garland Capital Management Inc. bought a new stake in shares of Alexandria Real Estate Equities during the second quarter worth $4,860,000. Resolution Capital Ltd increased its stake in shares of Alexandria Real Estate Equities by 27.7% in the second quarter. Resolution Capital Ltd now owns 1,095,287 shares of the real estate investment trust’s stock worth $131,949,000 after buying an additional 237,288 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Alexandria Real Estate Equities during the second quarter worth $2,568,000. Finally, NGAM Advisors L.P. increased its stake in shares of Alexandria Real Estate Equities by 4.1% in the second quarter. NGAM Advisors L.P. now owns 13,213 shares of the real estate investment trust’s stock worth $1,592,000 after buying an additional 524 shares during the period.

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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Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

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