Evercore ISI Trims Alexandria Real Estate Equities (NYSE:ARE) Target Price to $132.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price reduced by Evercore ISI from $137.00 to $132.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They set a buy rating and a $140.00 price objective on the stock. StockNews.com raised shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, March 21st. Mizuho lifted their target price on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a report on Wednesday, January 3rd. JMP Securities reaffirmed a market outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Finally, Wedbush reaffirmed an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $136.75.

Alexandria Real Estate Equities Trading Down 0.9 %

Shares of ARE opened at $116.24 on Thursday. The firm’s 50-day moving average price is $122.98 and its 200-day moving average price is $117.22. The firm has a market capitalization of $20.33 billion, a price-to-earnings ratio of 108.64, a PEG ratio of 2.68 and a beta of 1.05. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 0.54. Alexandria Real Estate Equities has a 1-year low of $90.73 and a 1-year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The company had revenue of $757.22 million for the quarter, compared to the consensus estimate of $740.16 million. Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. Sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.46 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 4.37%. Alexandria Real Estate Equities’s dividend payout ratio is currently 474.77%.

Insider Buying and Selling at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of the sale, the chairman now directly owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of the sale, the chairman now directly owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter M. Moglia sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The disclosure for this sale can be found here. 1.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alexandria Real Estate Equities

A number of hedge funds have recently modified their holdings of the company. Pinnacle Associates Ltd. bought a new position in shares of Alexandria Real Estate Equities in the first quarter worth approximately $284,000. Prestige Wealth Management Group LLC boosted its position in shares of Alexandria Real Estate Equities by 8,671.4% in the first quarter. Prestige Wealth Management Group LLC now owns 1,842 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 1,821 shares during the period. Carmel Capital Partners LLC boosted its position in shares of Alexandria Real Estate Equities by 8.5% in the first quarter. Carmel Capital Partners LLC now owns 3,082 shares of the real estate investment trust’s stock worth $397,000 after purchasing an additional 241 shares during the period. Advocate Group LLC boosted its position in shares of Alexandria Real Estate Equities by 423.3% in the first quarter. Advocate Group LLC now owns 18,420 shares of the real estate investment trust’s stock worth $2,375,000 after purchasing an additional 14,900 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Alexandria Real Estate Equities by 1.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,768 shares of the real estate investment trust’s stock worth $4,611,000 after purchasing an additional 500 shares during the period. 96.54% of the stock is currently owned by institutional investors.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.