Bank of America Lowers Alexandria Real Estate Equities (NYSE:ARE) to Neutral

Bank of America cut shares of Alexandria Real Estate Equities (NYSE:ARE) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Bank of America currently has $126.00 target price on the real estate investment trust’s stock, down from their previous target price of $151.00.

Several other analysts have also weighed in on the stock. JMP Securities reiterated a market outperform rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Evercore ISI lowered shares of Alexandria Real Estate Equities from an outperform rating to an inline rating and decreased their target price for the company from $133.00 to $126.00 in a research report on Thursday, July 25th. Finally, Wedbush lowered shares of Alexandria Real Estate Equities from an outperform rating to a neutral rating and decreased their target price for the company from $140.00 to $130.00 in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $132.75.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $115.02 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 107.50, a P/E/G ratio of 4.14 and a beta of 1.15. The company’s fifty day moving average is $118.23 and its two-hundred day moving average is $120.66. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($2.09). The company had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 earnings per share. Equities research analysts forecast that Alexandria Real Estate Equities will post 9.48 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 4.52%. Alexandria Real Estate Equities’s payout ratio is 485.99%.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the transaction, the insider now directly owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On Alexandria Real Estate Equities

A number of institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC bought a new position in shares of Alexandria Real Estate Equities in the second quarter worth about $211,000. Whalen Wealth Management Inc. bought a new stake in shares of Alexandria Real Estate Equities during the second quarter worth approximately $704,000. Versor Investments LP raised its stake in shares of Alexandria Real Estate Equities by 413.9% during the second quarter. Versor Investments LP now owns 10,401 shares of the real estate investment trust’s stock worth $1,217,000 after buying an additional 8,377 shares during the last quarter. Telos Capital Management Inc. raised its stake in shares of Alexandria Real Estate Equities by 1.8% during the second quarter. Telos Capital Management Inc. now owns 11,419 shares of the real estate investment trust’s stock worth $1,336,000 after buying an additional 202 shares during the last quarter. Finally, Consolidated Portfolio Review Corp bought a new stake in shares of Alexandria Real Estate Equities during the second quarter worth approximately $265,000. 96.54% of the stock is 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.