Zacks Investment Research downgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “Shares of Alexandria have outperformed the industry in the past one year. The stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share remain unchanged in a month’s time. Recently, Alexandria expanded its Alexandria LaunchLabs initiative, providing a solid startup platform for life science companies. Notably, strong fundamentals of the life science industry have enabled the company’s Class A properties in upscale locations to enjoy high occupancy. Also, Alexandria’s effort to improve credit profile is encouraging. It has adequate capital buffer which will likely cushion its position during any adverse situation. However, the company’s global footprint makes its profitability vulnerable to currency fluctuations. Rate hike adds to its woes.”
Several other analysts also recently issued reports on the stock. Royal Bank of Canada reissued an outperform rating and issued a $135.00 price objective on shares of Alexandria Real Estate Equities in a research note on Monday, February 12th. TheStreet lowered shares of Alexandria Real Estate Equities from a b- rating to a c rating in a report on Friday, February 2nd. Barclays lifted their price objective on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an overweight rating in a report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $102.34.
Shares of ARE stock opened at $122.93 on Friday. Alexandria Real Estate Equities has a 52-week low of $111.59 and a 52-week high of $134.37. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $12,356.21, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.99 and a beta of 0.80.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $1.54 by ($1.16). Alexandria Real Estate Equities had a net margin of 14.77% and a return on equity of 3.08%. The company had revenue of $298.79 million for the quarter, compared to the consensus estimate of $293.63 million. During the same period last year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. analysts expect that Alexandria Real Estate Equities will post 6.57 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Thursday, March 29th were issued a $0.90 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $3.60 annualized dividend and a yield of 2.93%. Alexandria Real Estate Equities’s payout ratio is 59.80%.
In related news, CEO Joel S. Marcus sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $125.37, for a total transaction of $3,761,100.00. Following the sale, the chief executive officer now directly owns 671,358 shares of the company’s stock, valued at approximately $84,168,152.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dean A. Shigenaga sold 29,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $125.21, for a total transaction of $3,631,090.00. Following the completion of the sale, the chief financial officer now directly owns 147,864 shares in the company, valued at $18,514,051.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,618 shares of company stock worth $8,935,609. Company insiders own 1.51% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Elkfork Partners LLC acquired a new stake in Alexandria Real Estate Equities during the 4th quarter worth $451,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Alexandria Real Estate Equities by 22.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,053 shares of the real estate investment trust’s stock worth $6,275,000 after acquiring an additional 8,787 shares during the period. We Are One Seven LLC acquired a new stake in shares of Alexandria Real Estate Equities in the 4th quarter worth $148,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Alexandria Real Estate Equities by 41.9% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,100 shares of the real estate investment trust’s stock worth $797,000 after acquiring an additional 1,800 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Alexandria Real Estate Equities in the fourth quarter valued at about $3,868,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.
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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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