Alexandria Real Estate Equities Inc (NYSE:ARE) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $111.70.
A number of analysts have recently issued reports on ARE shares. Citigroup raised their target price on shares of Alexandria Real Estate Equities from $157.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. GMP Securities restated an “average” rating and set a $26.00 target price on shares of Alexandria Real Estate Equities in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Alexandria Real Estate Equities from $140.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, DA Davidson raised their target price on shares of Alexandria Real Estate Equities to $166.00 and gave the stock a “buy” rating in a research note on Friday, August 16th.
In related news, EVP John H. Cunningham sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $144.00, for a total transaction of $864,000.00. Following the transaction, the executive vice president now directly owns 42,595 shares of the company’s stock, valued at $6,133,680. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marc E. Binda sold 3,775 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $146.70, for a total transaction of $553,792.50. Following the transaction, the executive vice president now directly owns 35,794 shares in the company, valued at $5,250,979.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,500 shares of company stock worth $10,957,978. 1.43% of the stock is owned by insiders.
Shares of NYSE ARE traded down $2.58 during mid-day trading on Friday, reaching $146.83. 346,648 shares of the company were exchanged, compared to its average volume of 680,038. The company’s 50-day simple moving average is $145.13 and its 200-day simple moving average is $142.66. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $16.95 billion, a P/E ratio of 22.25, a P/E/G ratio of 4.49 and a beta of 0.74. Alexandria Real Estate Equities has a twelve month low of $109.04 and a twelve month high of $153.51.
Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.04). The company had revenue of $373.90 million for the quarter, compared to analyst estimates of $366.81 million. Alexandria Real Estate Equities had a return on equity of 5.00% and a net margin of 28.05%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. As a group, equities research analysts expect that Alexandria Real Estate Equities will post 6.98 EPS for the current year.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.
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