Alexandria Real Estate Equities (ARE) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $137.00 price objective on the real estate investment trust’s stock.

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 being revised upward in two months’ 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.”

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A number of other equities research analysts also recently commented on ARE. ValuEngine upgraded shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a research report on Monday, April 2nd. Barclays raised 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 research report on Tuesday, January 30th. TheStreet downgraded shares of Alexandria Real Estate Equities from a b- rating to a c rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada restated an outperform rating and issued a $135.00 price objective on shares of Alexandria Real Estate Equities in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $102.34.

Shares of NYSE:ARE opened at $122.06 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $12,578.93, a P/E ratio of 20.28, a PEG ratio of 3.05 and a beta of 0.80. Alexandria Real Estate Equities has a 52 week low of $111.59 and a 52 week high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($1.16). The firm had revenue of $298.79 million during the quarter, compared to analyst estimates of $293.63 million. Alexandria Real Estate Equities had a net margin of 14.77% and a return on equity of 3.08%. Alexandria Real Estate Equities’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. sell-side analysts anticipate that Alexandria Real Estate Equities will post 6.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, March 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.95%. Alexandria Real Estate Equities’s payout ratio is 59.80%.

In other news, COO Stephen Richardson sold 3,250 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $123.17, for a total transaction of $400,302.50. Following the completion of the sale, the chief operating officer now directly owns 128,722 shares in the company, valued at approximately $15,854,688.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joel S. Marcus sold 30,000 shares of Alexandria Real Estate Equities 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 owns 671,358 shares of the company’s stock, valued at $84,168,152.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,618 shares of company stock valued at $8,935,609. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at approximately $451,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Alexandria Real Estate Equities by 22.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,053 shares of the real estate investment trust’s stock valued at $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 during the 4th quarter valued at approximately $148,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Alexandria Real Estate Equities by 41.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,100 shares of the real estate investment trust’s stock valued at $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 during the 4th quarter valued at approximately $3,868,000. Institutional investors own 99.01% of the company’s stock.

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About Alexandria Real Estate Equities

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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