Alexandria Real Estate Equities (NYSE:ARE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $136.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.31% from the company’s previous close.
According to Zacks, “Shares of Alexandria have outperformed the industry in the past one year. Moreover, the stock has seen the Zacks Consensus Estimate for first quarter 2018 funds from operations (FFO) per share remain unchanged in a month’s time. 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, dilutive impact of dispositions on earnings remains a concern for Alexandria. Moreover, the company’s global footprint makes its profitability vulnerable to currency fluctuations.”
Several other research firms have also recently issued reports on ARE. ValuEngine upgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. TheStreet cut shares of Alexandria Real Estate Equities from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. Barclays boosted their target price on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Canaccord Genuity reiterated a “buy” rating and issued a $20.37 target price on shares of Alexandria Real Estate Equities in a research note on Monday, December 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Alexandria Real Estate Equities in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $102.20.
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 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 business had revenue of $298.79 million for the quarter, compared to analyst estimates of $293.63 million. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. equities research analysts forecast that Alexandria Real Estate Equities will post 6.57 earnings per share for the current year.
In related news, CEO Joel S. Marcus sold 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $120.86, for a total value of $604,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dean A. Shigenaga sold 29,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was 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 of the company’s stock, valued at approximately $18,514,051.44. The disclosure for this sale can be found here. In the last three months, insiders sold 71,618 shares of company stock valued at $8,935,609. 1.51% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. We Are One Seven LLC purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth $148,000. IFM Investors Pty Ltd purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth $200,000. First Allied Advisory Services Inc. purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth $203,000. V Wealth Management LLC purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth $212,000. Finally, Conning Inc. purchased a new stake in Alexandria Real Estate Equities in the 4th quarter worth $225,000. 98.93% of the stock is owned by 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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