Alexandria Real Estate Equities (NYSE:ARE) Reaches New 1-Year Low After Analyst Downgrade

Alexandria Real Estate Equities, Inc. (NYSE:ARE)’s share price hit a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $117.00 to $95.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Alexandria Real Estate Equities traded as low as $69.93 and last traded at $70.21, with a volume of 309440 shares traded. The stock had previously closed at $72.18.

ARE has been the subject of a number of other reports. Jefferies Financial Group assumed coverage on Alexandria Real Estate Equities in a report on Monday, March 17th. They set a “hold” rating and a $100.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.00.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in Alexandria Real Estate Equities by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 109 shares during the period. Callan Capital LLC lifted its holdings in Alexandria Real Estate Equities by 1.3% in the fourth quarter. Callan Capital LLC now owns 8,946 shares of the real estate investment trust’s stock valued at $873,000 after acquiring an additional 111 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Alexandria Real Estate Equities by 6.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,119 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 120 shares during the period. Wedbush Securities Inc. lifted its holdings in Alexandria Real Estate Equities by 5.8% in the fourth quarter. Wedbush Securities Inc. now owns 2,300 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 126 shares during the period. Finally, M&T Bank Corp lifted its holdings in Alexandria Real Estate Equities by 0.7% in the fourth quarter. M&T Bank Corp now owns 19,478 shares of the real estate investment trust’s stock valued at $1,901,000 after acquiring an additional 127 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Stock Performance

The business has a fifty day simple moving average of $80.86 and a two-hundred day simple moving average of $94.37. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55. The company has a market cap of $11.87 billion, a P/E ratio of 38.11, a P/E/G ratio of 3.93 and a beta of 1.27.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.02. The business had revenue of $758.16 million during the quarter, compared to analysts’ expectations of $755.64 million. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 earnings per share. On average, sell-side analysts anticipate that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 7.70%. The ex-dividend date of this dividend was Monday, March 31st. Alexandria Real Estate Equities’s dividend payout ratio is presently 694.74%.

Alexandria Real Estate Equities Company Profile

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.